Partner FAQ
What should be done if the terminal operator is on holiday?
The trading terminal must be operated only by the person to whom it is officially allotted. Password sharing is strictly prohibited under exchange and compliance guidelines. If the designated operator is absent, that terminal must not be logged in or ...
If IIFL provides an IDEA SIM and charges for it, are they responsible for call recordings?
Yes, order placement proofs are mandatory and the primary responsibility lies with the broker (IIFL). However, the Authorized Person (AP) may also be required to maintain records as per internal guidelines issued by IIFL from time to time. The AP’s ...
Why can’t an AP have a demat account with another broker?
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 ...
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.
Do company directors need to trade only with IIFL if AP is under a company?
No, the requirement applies only to the company’s trading and demat accounts, which must be maintained with IIFL. The individual directors are not required to trade exclusively through IIFL or close their personal accounts with other brokers.
Must AP inspections be done only at the registered location?
Yes. AP's are to be inspected at registered location only. If any change in location, prior approval from IIFL is mandatory
What should be done if there’s a signature mismatch on the deal sheet?
Signature mismatches should be avoided as they are considered compliance observations. If the client signs the deal sheet themselves, the signature should match. In case of a mismatch, you should verify the signature with the client immediately and ...
When a client places an order at the office, is uploading the deal sheet enough?
Both the visitor register and the deal sheet (with the client’s signature) need to be uploaded. This ensures proper documentation of client visits and order placement as per compliance requirements.
Why savings account required for audit if AP run a proprietorship firm with many transactions?
In the case of a proprietorship, the firm and the individual share the same PAN, meaning they are legally treated as the same entity. Therefore, both personal and business bank accounts fall under the scope of audit and must be submitted as part of ...
Can someone be penalized just for attending this session for audit?
No, attending the session does not lead to any penalty. All Authorized Persons (APs) are mandatorily audited once every 2 years as per SEBI guidelines. The selection for audit is based on parameters such as turnover, complaints, and activity levels. ...
Is it okay if relatives transfer money to AP account for personal reasons?
Such transactions are acceptable at the first level. However, if the volume or frequency is high. For example, transactions exceeding ₹5 lakhs in a year they may raise red flags during an audit. In such cases, the auditor will seek a written ...
Reason for mandate rejected due to error in decrypting the accepted value.
In the context of NPCI (National Payments Corporation of India), reason code 257 typically indicates an "error in decrypting the accepted value," meaning the NPCI system could not decipher the bank's response regarding a transaction, whether it was ...
What documents are required to open a Non-Individual account if the KRA has been registered for 2 years or less?
To improve our efficiency and accountability, we're pleased to introduce a streamlined process for opening Non-Individual accounts based on KRA status, ensuring both ease of procedure and regulatory compliance. Here’s the updated process: **For KRAs ...
Mandate is approved but why showing that it can be used after 3 days?
Please note that BSE mandate has a cooling period of T+3 working days from the date of mandate approval and order date. So, we request you to place order after cooling period.
If an SIP is ceased after three consecutive rejections, why is it still appearing in the Upcoming SIP section?
Kindly raise the ticket to MF team for checking, from AAA under Mutual Fund > SIP > ERROR WHILE PLACING SIP ORDER.
SIPs rejected due to KYC validation failure and subsequently cancelled by BSE are still appearing under Upcoming SIP.
Kindly raise the ticket to MF team for checking, from AAA under Mutual Fund > SIP > ERROR WHILE PLACING SIP ORDER.
Mutual fund units are allotted but why still not reflecting in holding?
Generally RTA send a feed file within T+2 days to us basis which holdings get updated, normally most of the transactions get updated on the next business day however if it is not reflecting please wait for 1 more day. If still problem persists please ...
Client SIP is rejected but still received massage that units are allotted.
Kindly raise the ticket to MF team for checking as there is a possibility of order rejection through AMC. Please raise query from AAA under Mutual Fund > SIP > Units not credited but SIP deducted
Why Autopay option is not showing for mutual fund?
There is a possibility that some banks are not approved for certain mandate types. List of banks approved is available on NPCI site- https://www.npci.org.in/PDF/nach/live-members-e-mandates/Live-Banks-in-API-E-Mandate.pdf ...
Why client existing folio not showing at the time of buying mutual fund?
This issue is now resolved, if still facing then kindly raise ticket to app support team with proper error screenshot from AAA under Mutual Fund > MF Purchase >MF Order status
Client did not received mandate link for SIP.
Firstly check spam email if received email is received with subject as- BSE mandate regarding mandate or client can login to mf.indiainfoline.com_ Bank & autopay and authenticate through bank & autopay option.
Bank Details are not showing in the payment option for buying mutual fund.
If bank details are not updated in UCC (IIFL) records then the same will not reflect in payment option. If client wishes to add bank then raise ticket from AAA under Modification > Modification- CDSL Acct > bank Modification.
Client has not place any SIP pause request but still received SIP pause email?
Certain SIP's are temporary suspended by exchange due to which they will be paused as per BSE notice, you need to raise ticket if any scheme other than these with mentioned email. From AAA under Mutual Fund > SIP > Activation
I am facing ARN EUIN error process.
Firstly NISM exam should be cleared, then follow process to update ARN for broker & EUIN for employee through AMFI webiste- https://amfi.camsonline.com/amfi-online/#/sessions/login or you may contact AMFI team on 18005726592 if you have any issues.
Transfer cum closure is done and units are transferred to target account but still reflecting under portfolio section on MF portal
In this case client needs to follow ARN/broker change process as well. Client has to submit ARN/broker change form to AMC/RTA , once ARN/broker change is done after that only units will not appear on MF portal under portfolio section.
What is the process to stop SIP for karvy demat?
Please note that SIP transferred from karvy demat to IIFL is not available in our ARN and also will directly be with AMC/ RTA . So client will have to submit physical SIP stop form to AMC/RTA.
How to download AMC folio statement?
You can check and download your clients AMC report in AAA. Login to AAA >> Reports >> Individual client >> MF >> AMC statement.
Why my redemption order is rejected due to 2FA validation failed?
In such scenario we have found that the 2fa (2 factor authentication) email Id is different from RTA records. In such cases please place fresh order.
Where can I check the status of a client's stock payout request?
You can check the client shares payout and transfer status under DP Scrip payout option This report is available on AAA by navigating to Reports > Summaries > DP Scrip payout.
Is it mandatory to have a ledger balance to transfer shares from one account to another?
Yes, to transfer shares from one account to another, DP bill charges apply. Therefore, clients need to maintain sufficient funds in their ledger account to cover the DP charges. You can check the DP charges for a client in AAA under their profile.
How to cancel KYC ?
You can update your KYC, to update KYC please send filled and signed KRA Individual form (Available on website:https://ttweb.indiainfoline.com >> Download form format) along with self attested supporting documents (Address proof, PAN and ID proof) to ...
How client can change address in account online ?
Please note address Change Facility available in client WhatsApp, kindly follow below steps: 1. login IIFL Mobile App 2. Click on More option 3. Click on WHATSAPP US 4. Drop a Hi message 5. Main Menu >> My Account >> Update Profile >> Option >> ...
How NRI client can update bank account?
NRI Clients can change/add the bank details by following the below process: • Submit the “Change in Bank Details” form duly filled and signed by the account holder. The form is available under the form formats section. • Provide a copy of the cheque ...
What is physical/offline process to add bank account?
Clients can change/add the bank details offline by following the below process: • Submit the “Change in Bank Details” form duly filled and signed by the account holder. The form is available under the form formats section. • Provide a copy of the ...
How can I check the average buying price of shares for my clients?
You can check the average buying price of your client's shares in the Unrealized P&L Report. This report is available on AAA by navigating to Reports > Individual Clients > Trading > Unrealized P&L.
How to Place an STP (Systematic Transfer Plan) Order?
Currently, we do not offer the STP (Systematic Transfer Plan) facility.
I want to know my AP registration number
AP registration numbers are available on the segment registration certificate.
Where can I download the freeze account details along with the reason?
You can download the freeze account details along with the reason from AAA. Please log in to AAA, navigate to the "Report" section, then click on "Freeze Details." Select the reason, and click on "View Report" to download the Freeze Client Report.
When can the client expect the rejected DRF documents to reach their registered address?
The client will receive the rejected DRF at their registered address within 10 to 15 working days after rejection. If the DRF form is not received within the given TAT, please raise a request through AAA Help, providing the client ID and DRF number.
How to login in AAA?
To log in to AAA, open a web browser and visit the official website https://aaa.indiainfoline.com/. Then Click on the "Login" option and Enter your registered mobile number or FAN code, then click "Next" then Enter your MPIN to complete the login ...
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