Do demat rules apply only to the AP or also to staff with trading terminals?
Demat and trading compliance rules apply to any individual operating a terminal, including staff. If a staff member has terminal access, they must operate only under the AP’s registration and strictly on behalf of the AP during market hours. Personal trading during working hours is not permitted.
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Can a staff use a view-only terminal for reports if trading is disabled?
Yes, view only terminals are allowed. Brokers map these terminals with the exchanges specifically as “View Only,” meaning they cannot be used for trading. Staff can use them for generating reports and other non-trading activities.
Is the compliance officer required for the audit if we have no terminals, devices, or trading activity?
No, it is not mandatory for the compliance officer to be part of the AP audit. However, the audit itself is mandatory for all registered Authorized Persons. Even if there are no devices, terminals, or trading activity, all regulatory requirements ...
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.
Can client link multiple demat account with his trading account?
Yes. Client can link multiple demat account with Trading account.
Do we need to show terminals in audit if none are registered AP?
No, if you don’t have any terminals registered, you are not required to show terminals during the audit. However, auditors may verify this, so be prepared to confirm that no terminals are in use.