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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Issue of finalized standard Most Important Terms and Conditions

05-Jan-2024 | NSE Circular ref No.3/2024

NSE has issued a notification in reference to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/180 dated November 13, 2023 (Exchange Circular NSE/INSP/59367 dated November 15, 2023) on ''Most Important Terms & Conditions (MITC)'' By virtue of this notification the standard Most Important Terms and Conditions as finalized in accordance with point no. 4 of the aforesaid SEBI Circular is enclosed are released. With respect to new clients onboarded from April 01, 2024 onwards, the MITC shall required to be acknowledged i.e. duly signed by the client. Further, in accordance with aforesaid SEBI circular dated November 13, 2023, members are also requested to note that the MITC shall be informed by members to their existing clients by June 01, 2024 via email or any other suitable mechanism which can be preserved. In case if communication gets bounced/undelivered, the same shall be communicated through alternate channels to such clients. Other suitable mechanism may include physical delivery/SMS/electronic instant messaging services after adhering with the safeguards prescribed under Exchange Circular NSE/INSP/52604 dated June 10, 2022 on Issuance of Electronic Contract Notes (ECN) through SMS/electronic instant messaging services

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