The following are the mandatory main policies & procedures which the broker follows while dealing with his clients :
1. The Broker, at his discretion, may refuse orders for penny stocks / illiquid stocks, as jointly decided by Exchange and SEBI, from time to time, in order to avoid market manipulations.
2. The broker, at his discretion shall set up the client’s exposure limits.
3. If the pay-in/margin obligations are not met timely, the broker at his discretion, shall charge delayed payment charges at 15% p.a. This is also applicable if the broker does not pay the client timely, he shall pay the client, interest at 15% p.a.
4. The broker has the right to sell clients’ securities or close clients position, without giving notice to the client, on account of non-payment of clients’ dues, to the extend of his settlement / margin obligation.
5. Shortages in obligations arising out of internal netting of trades, shall be bought by the broker without recourse to the client from the market on the day of the auction, at the auction time. The shares short delivered, shall be delivered, as soon as they are received from the market. (i.e. 4 days after the original pay-out date)
6. If the earlier debits (settlement and / or margin obligations are not fully met) at the discretion of broker, the client may not be allowed to take any further positions.
7. The broker is bound to temporarily suspend the account or close the account permanently, if the client gives the broker intimation in writing.
8. The broker at his discretion, may deregister a client, if the exchange system, allows him to do so.
9. “Inactive Accounts” are those accounts in which no transactions have taken place in either P. Suryakant Share & Stock Brokers Pvt. Ltd. or PSJ Securities Pvt. Ltd., in the last six months.However if a transaction in an “Inactive Account” is done then the broker will telephonically communicate with the Client/Sub-broker/Remisier/Introducer and then activate such account.
The above policies are mandatory in nature