Is it allowed for an AP to be an employee of another trading member?

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• 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 ...

• 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.

• Is there any issue if transaction between AP and AP’s employee regarding the loan?

  No, this is not an issue as long as the AP maintains proper records showing that the employee has been paid a salary. Maintaining these records is considered sufficient compliance.

• Whether the securities pledged to Trading Member need to be unpledged while doing the settlement?

  Excess securities (in the form of margin pledge/re-pledge) with a trading member (TM), clearing member (CM), or clearing corporation (CC), after adjustment of the 225% of the margin liability, need not be unpledged for the purpose of periodic ...

• If IIFL doesn’t allow intraday trading in a script, can I trade it personally through another broker?

  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 ...