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

SMS and E-mail alerts to investors by stock exchanges

03-Dec-2024 | SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/169

SEBI has issued a circular in reference to Circular No. CIR/MIRSD/15/2011 and SEBI Master Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/110 regarding SMS and E-mail alerts to investors by stock exchanges, effective from 3rd December 2024.

In terms of Point iv of Clause 2B of Circular No. CIR/MIRSD/15/2011 and Clause 33.2.4 of the Master Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/110, stock brokers under exceptional circumstances, may, on a written request of a client, upload same mobile number/email address for more than one client provided such client belongs to one family.
By virtue of this circular, further clarification is provided regarding the updation of same mobile number/email address for more than one client on special written request of a client, by stock brokers. It is clarified as below-

Stock broker under special circumstances, may, on a written request of a client, upload same mobile number / email 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).

Further, the definition of family / authorised person for the above purpose is specified as below-
1. In case of individuals, self, spouse, dependent children and dependent parents.
2. In case of HUF, Karta or any of the Co-parceners as per prior approval of Karta.
3. In case of Partnership firm, any of the partners as per prior approval of all / authorised partners.
4. In case of a Trust, any of the trustees or beneficiaries as perresolution passed by the Trust.
5. In case of Corporates, the Authorised person operating the trading account as per the Board Resolution passed by the Corporate.

Therefore, Point iv of Clause 2B of Circular No. CIR/MIRSD/15/2011 and Clause 33.2.4 of the Master Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/110 stands amended to the above extent.

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