CIRCULAR<\/strong><\/p>\n

CIR\/MIRSD\/1\/2015<\/strong>                                                                                    March 04, 2015<\/strong><\/p>\n

 <\/p>\n

1.   
\n<\/strong>All recognised Stock Exchanges<\/strong> <\/strong><\/p>\n

2.   
\n<\/strong>Stock Brokers through Recognised Stock Exchanges<\/strong> <\/strong><\/p>\n

3.   
\n<\/strong>Depository Participants through Depositories<\/strong> <\/strong><\/p>\n

4.   
\n<\/strong>KYC registration Agencies (KRAs) <\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

Dear Sir\/ Madam<\/strong><\/p>\n

 <\/p>\n

Sub: SARAL Account Opening Form
\nfor resident individuals<\/strong><\/p>\n

 <\/p>\n

\n
1. It is gathered that
   \n a majority of new investors in the securities market begin with
   \n participation in the cash segment without obtaining various other
   \n facilities such as internet trading, margin trading, derivative trading
   \n and use of power of attorney. <\/li>\n<\/ol>\n

    <\/p>\n

   \n
   1. The account opening
      \n process can be simplified for such individual investors. With a view to
      \n encourage their participation, it is, therefore, decided that such
      \n individual investors can open a trading account and demat account by
      \n filling up a simplified Account Opening Form (‘AOF’) termed as ‘SARAL AOF’
      \n given at Annexure A. This form will be separately available with the
      \n intermediaries and can also be downloaded from the Exchanges’ and
      \n Depositories’ website. The investors who open account through SARAL AOF will
      \n also have the option to obtain other facilities, whenever they require, on
      \n furnishing of additional information as per prescribed
      \n regulations\/circulars. <\/li>\n<\/ol>\n

       <\/p>\n

      \n
      1. The standard set of
         \n documents viz. Rights and Obligations document, Uniform Risk Disclosure
         \n Document and Guidance Note and documentary proof related to identity and
         \n address as specified in SEBI Circulars dated August 22, 2011 and October
         \n 5, 2011 shall continue to remain applicable. It is further clarified that
         \n the provisions laid down under the PML Act, PML Rules, SEBI Master
         \n Circular on AML dated December 31, 2010 and SEBI Circular on AML dated
         \n March 12, 2014 shall also continue to remain applicable for set of
         \n individual investors mentioned in paragraph 2 above. <\/li>\n<\/ol>\n

          <\/p>\n

         \n
         1. For these set of
            \n individual investors, it has been decided to simplify the requirement of
            \n submission of \u2018proof of address\u2019. The matter has been examined in the
            \n light of amendment to the PML Rules, 2005 and accordingly, the requirement
            \n of submission of \u2018proof of address\u2019 is as follows: <\/li>\n<\/ol>\n

             <\/p>\n

            a.   
            \nHenceforth, individual investor may
            \nsubmit only one documentary proof of address (either residence\/correspondence
            \nor permanent) while opening a trading account and \/ or demat account or while
            \nundergoing updation. <\/p>\n

            b.   
            \n<\/span>In case the proof of address furnished by
            \nthe said investor is not the address where the investor is currently residing,
            \nthe intermediary may take a declaration of the residence\/correspondence address
            \non which all correspondence will be made by the intermediary with the investor.
            \nNo proof is required to be submitted for such correspondence\/residence address.
            \nIn the event of change in this address due to relocation or any other reason,
            \ninvestor may intimate the new address for correspondence to the intermediary
            \nwithin two weeks of such a change. The residence\/ correspondence address and
            \nany such change thereof may be verified by the intermediary through \u2018positive
            \nconfirmation\u2019 such as (i) acknowledgment of receipt Welcome Kit\/ dispatch of
            \ncontract notes \/ any periodical statement, etc. (ii) telephonic conversation;
            \n(iii) visits, etc. <\/o:p><\/p>\n

             <\/p>\n

            5.   
            \nThis circular is issued in exercise of
            \npowers conferred under Section 11(1) of the Securities and Exchange Board of
            \nIndia Act, 1992. <\/p>\n

             <\/p>\n

            Yours faithfully,<\/p>\n

             <\/p>\n

             <\/p>\n

            A.S.Mithwani<\/strong><\/p>\n

             <\/p>\n

            Deputy General Manager<\/strong><\/p>\n

            022-26449613<\/strong> <\/p>\n

            aliasgarm@sebi.gov.in<\/strong> <\/p>\n

            Encl: Annexure A – SARAL AOF<\/strong><\/p>\n

            <\/p>\n","protected":false},"excerpt":{"rendered":"

            CIRCULAR CIR\/MIRSD\/1\/2015                                                                                    March 04, 2015     Sub: SARAL Account Opening Form for resident individuals It is gathered that a majority of new investors in the securities market begin with participation in the cash segment without obtaining various other facilities such as internet trading, margin trading, derivative trading and use of power of attorney. The … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[208],"class_list":["post-1565","post","type-post","status-publish","format-standard","hentry","category-investment","tag-account"],"yoast_head":"\n