The Securities and Exchange Board of India (SEBI) has issued circular to amend the guidelines regarding uploading of mobile numbers and email addresses by the Stock-Brokers for sending SMS and email alerts to investors.
Under exceptional circumstances, the Stock-Brokers can now upload the same mobile number/E-mail address for more than one client provided such client belong to one family (in case of individual clients) or such client is the authorised person of an HUF, Corporate, Partnership or Trust (in case of non-individual clients), subject to specific written request of a client.
Family/Authorised person for the above purpose shall include:
- In case of individuals, self, spouse, dependent children, and dependent parents.
- In case of HUF, Karta or any of the Co-parceners as per prior approval of Karta.
- In case of Partnership firm, any of the partners as per prior approval of all/authorised partners.
- In case of a Trust, any of the trustees or beneficiaries as per resolution passed by the Trust.
- In case of Corporates, the Authorised person operating the trading account as per the Board Resolution passed by the Corporate
The above provision is effective on an immediate basis.
Circular is hyperlinked below for ease of reference.
Source: Securities and Exchange Board of India
