Android
Zerodha Broker (Free Delivery)

India's No. 1 Broker with Best Software Trade @ Flat Rs 20

Open Instant Account
market update arrow Delhi riots: Student activists released from Tihar jail on bail arrow Venus Remedies wins legal battle against French firm for paracetamol patent arrow Third Covid wave unlikely to affect children much: WHO-AIIMS survey arrow Covid LIVE: Karnataka sees below 6,000 cases in a day; 9,118 in Tamil Nadu arrow IND vs NZ playing 11: BCCI announces India playing 11 for WTC final arrow No plans to reduce SAIL headcount: Pradhan to WB Finance Minister arrow Jet Airways shareholders reject FY19 and FY20 accounts ahead of NCLT ruling arrow Novavax's Covid vaccine 'Covavax' to launch in India by September: Sources arrow AIIMS-Delhi to resume routine inpatient admissions, elective surgeries arrow Domestic air traffic plunges 63% MoM in May due to second wave: DGCA arrow Gautam Adani loses $9 bn in three days in worst wealth rout arrow RBI 'cautiously optimistic' about economic recovery after Covid second wave arrow JPMorgan, Goldman, two other banks hired by Paytm for proposed $3 bn IPO arrow Govt should provide Rs 3-trn stimulus to perk up domestic demand: CII arrow Hawkish US Fed tone hits D-Street; Sensex slips 179 pts; IT stocks shine arrow Not okay with profit-making firms lecturing us on democracy: IT minister arrow US Fed prepping the markets for taper; a correction will be good: Analysts arrow US Fed prepping the markets for taper; a correction will be good: Analysts arrow India rupee at six-week low; bond yields rise after hawkish Fed signal arrow DATA STORY: India adds fewer than 100,000 cases for 10th day straight arrow Antilia bomb scare probe: Ex-Mumbai Police 'encounter specialist' arrested arrow World Coronavirus Dispatch: Beijing pips global hubs with 80% jab rate arrow PNB Housing hits 5% upper circuit after 25% fall from 52-week high arrow Govt extends validity of motor vehicle documents till Sept 30 due to Covid arrow Flipkart, Amazon challenge Karnataka HC's order to restart antitrust probe

Trading and Investment Terminology

Know Your Client (KYC)

The Know Your Client or Know Your Customer or KYC can be explained as a defined rule in the investment sector that makes sure that the investment consultants have the detailed data about their clients' risk tolerance, investment knowledge, and financial positions.

 

KYC secures both customers and investment advisors. Customers are secured by having their investment consultant recognize what investments best suit their own circumstances.

 

Investment consultants are secured by realizing what they can and cannot add in their customer's portfolio.

 

KYC compliance generally includes prerequisites and strategies like risk management, client acceptance policies, and monitoring of transactions.

 

The Know Your Customer (KYC) rule is an moral necessity for those in the stocks industry who are managing clients during the opening and maintainence of accounts.

 

There are two principles which were actualized in July 2012 that cover this theme together: Financial Industry Regulatory Authority Rule 2090 and FINRA Rule 2111.

 

These principles are set up in order to secure both the broker and the client and so that agents and firms manage with customers fairly.

 

The Know Your Customer Rule 2090 basically expresses that each broker should utilize sensible effort when opening and keeping up of customer accounts.

 

It is a necessity to know and keep records on the basic facts of every client, just as recognize every individual who has position to act on the client's behalf.

Latest News हिंदी समाचार
ad