Policy on Unauthentic New Circulation
Policy for Unauthenticated News Circulation
The purpose of this policy is to protect investors by avoiding and restricting the circulation of unauthenticated news related to various scrips by the Company’s Directors, Officers, Employees, Temporary Staff, Voluntary Workers or any other dealing persons, as well as through the Company’s infrastructure, without adequate caution.
It has been observed that market-related news circulated through blogs, chat forums, emails or other communication platforms without adequate caution may cause considerable damage to the normal functioning and behavior of the securities market and may distort the price discovery mechanism.
As per the Code of Conduct for Stock Brokers under the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 and SEBI Circular No. Cir/ISD/1/2011 dated March 23, 2011, all SEBI-registered market intermediaries are required to have an internal code of conduct governing the conduct of their employees. In view of the same, the Company has implemented this policy for communication through various modes.
Prohibited Activities
- Circulation of unauthenticated or unverified news related to any scrips through blogs, chat forums, emails or any other medium.
- Encouraging, originating or circulating rumors or unverified information obtained from clients, industry sources, trade circles or any other source without proper verification.
- Forwarding any market-related news received through official or personal email, blogs or any other medium without prior review and approval of the Compliance Officer.
All Directors, Officers, Employees, Temporary Staff and Voluntary Workers of the Company are required to strictly adhere to this internal code of conduct and control mechanisms.
Access Control
Access to chat forums and messenger sites is restricted. Only senior officials, including Directors, the Compliance Officer and Managers, are permitted to access such platforms. Logs of such access shall be treated as official records and maintained by the Compliance Officer.
Any market-related information or news received by staff through official or personal email shall be forwarded or communicated only after the same has been reviewed and approved by the Compliance Officer.
Any employee or staff member who fails to comply with this policy shall be deemed to have violated the provisions of the SEBI Act, Rules and Regulations and shall be liable for disciplinary action as deemed appropriate by the Company.
This policy may be modified, amended or altered from time to time to ensure compliance with applicable regulatory requirements and guidelines.
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ATTENTION INVESTORS!
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Beware of guaranteed returns:
Beware of fixed/guaranteed/regular returns/ capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms. -
Do not keep funds idle:
Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms. -
Check account settlements:
Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following link: https://www.nseindia.com/invest/about-defaulter-section. -
No direct security transfers:
Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client. -
Keep contact details updated:
Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number is mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly. -
Verify trades regularly:
Don't ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith. -
Review weekly statements:
Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the exchange if you notice a discrepancy. -
Avoid unauthorized transfers:
Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker.”