Dear Business Associates,
This is in continuation to Compliance circular as issued by SEBI/Exchanges in the interest of investor from time to time; we hereby again inform you the preliminary requirements which must have at your (Branches / Sub-Broker’s / Authorised Person) locations:
- DISPLAY OF NOTICE BOARD: All Notice Boards as per prescribed format are a mandatory display in the branch. (Kindly refer Annexure-1 and Annexure-2) The ideal size should be 4‟× 3‟ but due to space constraints it can be reduced but in any case will not be in A4 size.
- SEBI REGISTRATION CERTIFICATES TO BE DISPLAYED ON THE NOTICE BOARD: As per the Bye Laws of the Exchange all offices of the Broker/Sub-broker/Authorised Person have to display the SEBI Registration certificates on their Notice Board. With regards to the same, you are instructed to make sure that the certificates attached are displayed at your office. Therefore you are required to take the printouts and laminate the certificates before displaying on the notice board.
- STATUTORY REGISTERS: You are instructed to make sure that the Visitors Register and Complaint register are properly maintained at your office.
- TRADING TERMINALS:You are instructed to make sure that all the trading terminals are present at the registered location and are being operated by the authorized user having required NISM certificates.
- ILLEGAL TRADING:You are instructed to make sure that No illegal trading or Dabba tradingis not being carried out at your location.
- PMLA Policy:Pursuant to the recommendations made by the Financial Action Task Force on anti-money laundering standards, SEBI had issued the Guidelines on Anti Money Laundering Standards vide their notification No.ISD/CIR/RR/AML/1/06 dated 18th January 2006, vide letter No.ISD/CIR/RR/AML/2/06 dated 20th March 2006 and as per these SEBI guidelines, You are requested to adhere to PMLA Policy drafted under “Prevention of Money Laundering Act, 2002”.
Copy is PMLA Policy is attached for your reference and also available at our website i.e. www.elitewealth.in
- EVIDENCE OF CLIENT PLACING ORDER: As per SEBI Circular reference No.CIR/HO/MIRSD/MIRSD2/CIR/P/2017/108 dated September 26, 2017, you shall execute trades of your clients only after keeping evidence of the client placing such order, it could be, inter alia, in the form of:
a. Physical record written & signed by client (Sample copy is attached)
b.Telephone recording,
c.Email from authorized email id,
d.Log for internet transactions,
e.Record of SMS messages,
f.Any other legally verifiable record
Hence your should have voice logger facility at your registered location and for walk-in clients, you should have maintain physical record of written request of client.
If any discrepancies with respect to above found during inspection carried out by us or Exchanges or SEBI, you, Inspecting Authorities will be constrained to initiate to impose huge penalty which shall be entirely at your cost and responsibility.
Further you are hereby confirm that in case of any investor grievance/complaint, legal case and/or arbitration matter of your clients, all expenses and penalty amount shall be entirely at your cost and responsibility.
Therefore it is requested to take a note of same and ensure all the above mentioned compliance. In case of any other query or clarification, you may contact to undersigned at 011-42445757 or mail us basupport@elitewealth.in or compliance@elitewealth.in .
Thanking You
Sincerely,
(Sanjay Dutt Sharma)
Compliance Officer
Elite Wealth Advisors Limited