Stock Brokers Can Upload the Same Mobile No./Email Address for More Than One Client Belonging to One Family | SEBI
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Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/XXX; Dated: 28.10.2024
Earlier, SEBI issued guidelines regarding SMS and email alerts to investors by stock exchanges. It states that stock brokers must ensure that a separate mobile number/email address is uploaded for each client. SEBI has now clarified that the stock broker may, at a client’s request, upload the same mobile number/email address for more than one client, provided the client belongs to one family or such client is an authorised person of a HUF, partnership, or trust. The provisions of this circular shall come into force with immediate effect.
Family / Authorised person for this purpose must include –
(a) In the case of individuals, self, spouse, dependent children and dependent parents.
(b) In case of HUF, Karta or any of the Co-parceners as per prior approval of Karta.
(c) In the case of a Partnership firm, any of the partners as per prior approval of all /authorised partners.
(d) In the case of a Trust, any of the trustees or beneficiaries as per the resolution passed by the Trust.
(e) In case of Corporates, the Authorised person operating the trading account as per the Board Resolution passed by the Corporate.
Click Here To Read The Full Circular
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