Voluntary Freeze Policy
Policy on Voluntary Freezing of Online Trading Accounts
1. Introduction
This policy outlines the procedures for the voluntary freezing of trading accounts for clients of AUM Securities Private Limited (ASPL), in accordance with SEBI and Exchange Circulars.
2. Purpose
The purpose of this policy is to provide ASPL clients with clear guidance on the process, modes, timelines, and details for freezing their trading accounts in cases of suspected or unauthorized activity.
3. Scope and Applicability
This policy applies to all ASPL clients who wish to voluntarily freeze their online trading accounts.
4. Review
This policy is part of ASPL’s Risk Management Policy and will be reviewed annually by the Board of Directors or earlier if required to ensure alignment with regulatory changes.
5. Procedure to Freeze Online Trading Account
a. By Sending a mail to our support team
* Send a mail to our support team, mail ID: [email protected]
* Mention necessary identity verification details in the mail.
* Once verified, the agent will process the account freeze request.
b. By Calling the Dedicated Support Line
* Contact ASPL’s support team at 022-69366600 (available from 8:30 AM to 5:30 PM, excluding Sundays and public holidays).
* Provide necessary identity verification details to the support agent.
* Once verified, the agent will process the account freeze request.
6. Procedure to Unfreeze Online Trading Account
* Clients can call ASPL’s dedicated support line at 022-69396600 and follow the agent’s instructions.
* After completing due diligence and validations, the account will be unfrozen within approximately 30 minutes.
* Once unfrozen, clients can resume trading through both online and offline modes, including call-and-trade or the AP terminal.
7. Important Points to Note
a. Clients are advised to close all open positions before submitting a freeze request.
b. Accounts will be blocked within 15 minutes of receiving the freeze request.
c. Confirmation of the freeze, along with instructions to unfreeze, will be sent via email and SMS.
d. All pending orders, whether online or offline, will be canceled automatically, and trading access will be disabled.
e. Clients will receive details of any open positions, including contract expiry information, within an hour of freezing the account.
f. While frozen, clients can log in for exploratory purposes but will not be able to place trades.
g. New SIPs will not be executed during the freeze period.
h. Clients can add or withdraw funds but cannot modify their profiles.
i. It is recommended to change the login password immediately after freezing the account (via Settings → Change password).
j. Open positions can be managed by calling ASPL’s support line at 022-69396600.
k. In case of an MTM (Mark-to-Market) breach of 80% or above, all open positions will be auto-squared off per ASPL’s risk management policy.
l. If there is a margin shortfall, positions will be squared off to cover the shortfall.
m. Negative account balances will result in the sale of investments to recover the owed amount.
n. Intraday positions will be auto-squared off per ASPL’s intraday product policy.
8. Clarifications
a. Freezing Scope: Freezing is limited to online access. Risk management activities of ASPL will not be restricted, and clients must adhere to the existing risk policy.
b. Exchange Records: A freeze request does not constitute marking the Unique Client Code (UCC) as inactive in exchange records.
c. Account Accessibility: Clients can access their accounts while frozen, but trading and profile modification will remain restricted.
d. Cancellation of Freeze Requests: Once a freeze request is submitted, it cannot be canceled. However, clients can place an unfreeze request by calling 022-69396600.
9. Circular References
a. SEBI/HO/MIRSD/POD-1/P/CIR/2024/4 dated January 12, 2024
b. NSE/INSP/61529 dated April 08, 2024
c. BSE notice 20240408-12 dated April 08, 2024
d. MCX/INSP/218/2024 dated April 09, 2024
e. NCDEX/COMPLIANCE-025/2024 dated April 09, 2024
.png)
ATTENTION INVESTORS!
-
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.”