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Do sub-brokers need EUIN?

All salespersons/relationship managers including sub-brokers offering advice to investors should have EUIN.
Team Cafemutual Jun 5, 2013

All salespersons/relationship managers including sub-brokers offering advice to investors should have EUIN.

I’m a sub-broker with Bajaj Capital Adviser Network. I have not received my EUIN yet. Do I also need to be KYD compliant? Please help.

 

Hi Neeraj,

Thanks for writing to us.

Quoting EUIN in application forms has become mandatory (in case of advisory transactions) for the main ARN holders, their salespersons and sub-brokers from June.

1.  Since you are empanelled with Bajaj Capital as sub-broker, we suggest you immediately enquire with the company about the same. As far as KYD is concerned, it is applicable only for the main ARN holder and not sub-brokers.

 

Let us know if you require any further clarification.

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