The Securities and Exchange Board of India (SEBI) has notified norms to allow sharing of Know-your-Client details with entities regulated by other financial sector watchdogs to facilitate a common KYC system for the entire financial sector. So far, the facility of sharing of KYC information was available only among the SEBI -registered intermediaries. The KYC information of nearly 2 crore investors in the capital markets is available on the centralised KYC registration agency, KRA system of the SEBI. In a notification issued in Mumbai yesterday, SEBI said, the system of KRA can be connected with any central KYC registry authorised by the Central Government for the purpose of collation and sharing of the KYC information in the financial sector. The new norms will be called as the 'Securities and Exchange Board of India KYC (Know Your Client) Registration Agency. The market regulator further said, under the SEBI system, a client who has already done the KYC with any Sebi registered intermediary need not undergo the same process again when he approaches another intermediary. Earlier, Sebi had said that a common KYC process for the entire financial sector would help reduce the paper-work and bring down cost of operations for the investors as well as for the intermediaries.