MANU/SSMD/0012/2020

Ministry : Securities and Exchange Board of India

Department/Board : Market Intermediaries Regulation and Supervision Department

Circular No. : SEBI/HO/MIRSD/DOP/CIR/P/2020/33

Date : 11.03.2020

Notification/ Circulars Referred : Circular no. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/92 dated September 23, 2016 MANU/SDER/0021/2016;SEBI circular no. CIR/MIRSD/16/2011 dated August 22, 2011 MANU/SSMD/0047/2011

Citing Reference:
Circular no. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/92 dated September 23, 2016 MANU/SDER/0021/2016  Referred

SEBI circular no. CIR/MIRSD/16/2011 dated August 22, 2011 MANU/SSMD/0047/2011  Referred

To,

All Recognised Stock Exchanges
Stock Brokers through Recognised Stock Exchanges

Madam / Sir,

Amendment in 'Rights and Obligations of Members, Authorized Persons and Clients' of FMC circular No FMC/COMPL/IV/KRA-05/11/14 dated February 26, 2015

1. SEBI, vide circular no. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/92 dated September 23, 2016, inter-alia, specified that provisions of FMC circular No. FMC/COMPL/IV/KRA-05/11/14 dated February 26, 2015 shall be applicable to all commodity derivatives exchanges including regional commodity derivatives exchanges for compliance by their members.

2. Clause 42 of Annexure-3: 'Rights and Obligations of Members, Authorized Persons and Clients' of FMC circular No. FMC/COMPL/IV/KRA-05/11/14 dated February 26, 2015, specifies the following:

In case, client opts to receive the contract note in electronic form, he shall provide an appropriate email id (created by the client) to the member (Kindly refer Appendix A of Annexure 3). Member shall ensure that all the Rules / Business Rules / Bye-Laws / Circulars issued from time to time in this regard are complied with. The client shall communicate to the member any change in e-mail id through a physical letter. If the client has opted for internet trading, the request for change of email id may be made through the secured access by way of client specific user id and password.