Research Reports
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With reference to NSE circular No.: NSE/ISC/47869 & BSE Notice No. 20210401-53 dated April 01, 2021 informing the Trading Members to update the mandatory fields in Unique Client Code (UCC) system of the Exchange for all the existing and new clients by May 31, 2021.
Details of 6-KYC attributes that are mandatory are as mentioned below:
These details have to be updated before 31st March, 2022. Note: In case of failure to meet the above guidelines, the status of such client codes shall be marked as "Closed" in UCC system of the Exchange. Any trades executed in client codes not having the mandatory details will attract penal action.
Please contact your local office or our Mumbai / Kolkata office to regularise and update the details, if not already done.
"Beware of fixed/guaranteed/regular returns/ capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.
Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.
Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following link:
https://www.nseindia.com/invest/about-defaulter-section (opens in new tab).
https://www.bseindia.com/static/investors/Claim_against_Defaulter.aspx (opens in new tab)
Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of 'margin pledge', created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.
Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number are mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly.
Don't ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith.
Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the exchange if you notice a discrepancy.
Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker."
Dear Investor,
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for
investors to remain updated and well-informed about various aspects of investing in securities
market. In this connection, please find a link to the BSE Investor Protection Fund website
where you will find some useful educative material in the form of text and videos, so as to
become an informed investor.
We believe that an educated investor is a protected investor !!!
"Prevent unauthorised transactions in your account — Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day. Issued in the interest of Investors"