This is custom Compliance Resource management
Response to Sub-Query-1: Generally, if KYC is done with any KRA, it will be visible in the public domain itself. So, if it is already appearing as KYC “done” in any of the KRAs then, no further action is required. If such client is not having status of “KYC” done in any of the KRAs […]
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To move the LOEs to the new entity, would it be okay to take a simple letter signed by client, stating below I agree to continue receiving Financial Advisory Services from Shah Rohit Financial Services Private Limited as per the earlier engagement entered with ROHIT SHAH as per the same terms and conditions, without any […]
Response: According to Section 7(2) of the IA Regulations, Certification requirements shall be complied by Individual IA or Principal Officer of Non-Individual IA or PAIA,, at all times, a certification on financial planning or fund or asset or portfolio management or investment advisory services from: a) National Institute of Securities Markets (NISM) or b) […]
Recently I spoke to Mega Kyal (CA) and she asked for many complicated records to file but I don’t have those records. Usually I have collected Risk profile form (3 pages, Question and Answer tick mark) then KYC form with Pan copy. After I received a filled risk profile, Kyc and Pan copy I issued […]
Can you pls find out and share the right pdf. just had a querry For corporate RIA there is a requirement of submitting networth certificate My querry is Does the certificate have to be as on 30 th sept meaning calculated as in sept 21 or is it as on 31 st march 2021 We […]
We have received our registration with FIU and we can successfully log-in now. We are sole proprietory concern. We dont have any suspicious transactions as of now so do we have to do NIL reporting? Is there any other reporting required and what is the frequency? Response: Response to Sub-Query-1: Generally, if KYC is […]
Response: For new accounts, not only should you go based on the declared client’s identity – but, you have an obligation to also find out the beneficial ownership and control i.e. which individual(s) ultimately own(s) or control(s) the client and/or the person on whose behalf a transaction is being conducted. This, you can check […]
My auditor is of the view that this compliance needs to be met only for FY2022 (and not for FY2021). Thus, no such certificate needs to be procured for FY2021. Thought of taking an opinion from you. Do we need to get such annual certificate for FY2021 by September 30, 2021 OR this is applicable […]
We have also got one signed document from the client (owner of the company) that the advisory fee for the personal portfolio advisory will be paid from the company’s account. Please guide with some references from SEBI Regulation. Response: The SEBI IA Guidelines Circular dt. 23-9-2020 suggests in Annexure-A prescribed under Regulation 19 (1) […]
Activities a compliance officer is supposed to do? What are his roles and responsibilities? What we as a company should expect of a compliance officer or check with him and at what frequency? Response: According to Section 20 of the IA Regulations An investment adviser which is a body corporate or a partnership firm […]