Can an AP hold a demat account with another broker?
Can an AP hold a demat account with another broker?
No, an AP is required to close any demat account held with another broker. This is to avoid any conflict of interest and ensure compliance with regulatory guidelines.
This restriction is based on a regulatory requirement stated in the Exchange circular issued in August 2024 (point no. 17). As per this circular, APs must maintain their demat accounts only with the broker they are registered with in this case, IIFL ...
No, as an AP (Authorised Person), you are not permitted to hold trading or demat accounts with any other broker. All personal and client-related trading activities must be conducted through IIFL only, in accordance with regulatory and internal ...
As per current protocol, the AP (Authorized Person) is required to close their demat account with the other broker before proceeding. Integration directly through CDSL/NSDL is not supported in this case.
Client can send the requests of transferring shares from one Demat account to another by filling Delivery Instruction Slip (DIS). Client can submit the DIS at the nearest IIFL branch or to RM or send directly at the below mentioned address: NSDL / ...
1.Client can send the requests of transferring shares from one Demat account to another by filling Delivery Instruction Slip (DIS). 2.Client need to submit the Delivery Instruction Slip to the respective broker from where client want to transfer the ...