Requirement of Unique Email id and Mobile Number for Client account activation.

With reference to recent directions given by regulatory authorities,there would be certain changes in the current account opening process with regards to email and mobile number. All new accounts would need to compulsorily have their own email id and mobile number.

Kindly ensure the following points while opening new Accounts

a) The email id provided by each client should be unique and not mapped to anyother account in MOSL. A test email shall also be sent to client’s email id prior to account verification to confirm its validity by checking that it does not bounce back.

b) The mobile number is also unique for each account. However, in case of accounts belonging to family members, one mobile number shall be mapped to maximum of three accounts.

c) During verification call to client before the activation of account, the client shall confirm the email id and mobile number as mentioned in the KYC form to the MOSL/NSL executive.

In case any of the above criteria are not met, a suitable objection will be raised at the time of account opening.

These changes are primarily from the view of investor protection and client will also have following additional benefits.

1. By giving their e-mail id, the clients can avail the benefit of timely communication of all information sent. Also, the client will get the benefit of digital contract notes on their given email id without any delay.

2. By giving their Mobile Number client can avail for trade confirmations through SMS at the end of day. Client can also receive confirmations for debits in there demat account.

3. Apart from above, clients will be benefited by Advisory services provided by NSL via SMS.

The above guidelines shall be applicable from February 15, 2010.

We seek your active co-operation in implementing the same. Incase of any clarifications please contact your customer service executive.

Issued by : Account Opening Dept.

 

Most Important Circular

 

Quarterly Account Settlement

 

 Dear All,

 With reference to SEBI Circular MIRSD/SE/Cir-19/ 2009, December 3, 2009, we would like to inform you that SEBI has amended the norms related to Running Account Authorization and have directed  settlement of accounts(ledger)  at least once in a quarter.

 

To this effect, we would like to inform you that all clients need to settle their accounts and make the Ledger ZERO once in a quarter in both the segments -  Cash and FO. This includes the stocks lying in debit stock account and collateral which also have to be made ZERO once a quarter. We have to send a confirmation of the same to all clients once the accounts is settled and made NIL.

 

To avoid the operational inconvenience and to ensure hassle free trading while meeting the  Exchange guideline you all need to take care of the followings at your end :-

 

For Debit Clients :-

 

1)      Clear the Debit Balance by issuing payment to MOSL and to make the ledger ZERO in all segment  and mark the account as settled.

 

For Credit Clients :-

 

1)      In case of credit clients by Marking the payout and making ledger zero once in Quarter

2)      In case if the payout is not taken, the MOSL by default will make the payments to make the ledger ZERO on certain specified dates.

 

On the day of settlement MOSL would be sending the Statement of Account and register of securities to meet the compliance requirement. The account settlement includes stock/funds lying in Beneficiary account and Margin account.

 

To comply with the above circular, we request you to ensure that all your clients ledger is made Zero by February end and intimate the same to us through the WIRE software. We will send the communication to all these clients and ensure compliance.

 

Incase of clients whose ledger is not made NIL by February 28, 2010, the POA limit will be blocked and only ledger limit will be provided till the account gets settled.

 

Incase the ledgers are not made NIL by March 15 2010, trading limits will be blocked and selling will be done by RMS to make the ledger NIL to comply with the circular.

 

Incase of clients having positions in F&O, margins can be retained to the extent of 75% over and above the total margin requirement. The remaining margins will have to be released to comply with this circular .

 

Clients who have complied by this circular will be updated in Wire software on a daily basis for your control.

 

This process will be followed for every quarter.  The definition of Quarter is the calendar quarter Jan to March, April to June, July to Sept. and Oct. to Dec every year. Once the ledger and stocks is made Nil anytime during  the quarter, the client will be compliant with this circular.

 

We are designing the system to track such accounts which will help you in understanding the accounts which are settled and pending. Any account which is settled from your end will be marked as settled and then he will be getting the limit as usual on ledger and stocks without any restriction.

 

In case of any clarification, you can be in touch with your customer service executive.

 

 

 

 

Regards,

Rajeev Kumar Barnwal

Narnolia Securities Ltd

31-34/59 GEL Church Complex

2nd floor A.C.Market,Main Road

Ranchi, Jharkhand-834001

Board Line-0651-2330701,2331702,Ext-326

Direct-0651-2330416

E-mail Id rajeev@narnolia.com