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The book covers the various functions of depositories and their depository NISM Series VI: Depository Operations Certification Examination seeks to create a. NISM SERIES VI DEPOSITORY OPERATIONS CERTIFICATION EXAM (DOCE) records in a book entry form NSDL & CDSL are the two depositories in India. Workbook for. NISM-Series-VI: Depository Operations .. electronically by book entry without making the securities move from person to person. (a) Companies.

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NISM-Series-VI: Depository Operations Certification Examination seeks to create a common minimum knowledge benchmark for associated persons engaged or. NISM-Series-VI: Depository Operations Certification Examination operational risk, or (f) maintenance of books and records pertaining to the above activities. NISM-Series-VI: Depository Operations Certification Examination seeks to create a The book covers the various functions of depositories and their depository.

For depository participants, the certification exam can improve their quality services in depository operations. The person engaged by a registered depository participant, interested professionals and students and any individual can apply for this course along with a depository operations mock test. To understand the scenario and gain a good knowledge, online NCFM is the best institute in India for pursuing courses related to stock markets. The depository operation model test paper consists of approximately questions and answers to practice online. For practicing the paper, the guidelines of time limitation and negative marking has been given to the students before they start. To get the good knowledge of Indian stock markets and depositories, this question paper is helpful to practice in the real similar environment.

Consists of 8 full-length mock tests containing real-like exam questions and answers which are very similar to the real NISM Equity Derivatives Exam. Each mock test can be attempted 3 times.

NISM Registrars to an Issue and Share Transfer Agents - Corporate Workbook

Valid for 45 days. Consists of 12 full-length mock tests containing real-like exam questions and answers which are very similar to the real NISM Investment Adviser Level 1 Exam. Guaranteed results. My Cart Checkout Login Register. Premium Mock Tests. Investment Adviser Level 2 Mock Tests. Free Mock Tests.

Merchant Banking Mock Test. It consists of 25 pages. Registered members can download our study notes from members page. Register now free. We offer Model Test demo and premium based on latest syllabus. Register to take Model Test. Depository Operations Certification Examination. Free mock test. Geojit BNP Paribas Karvy Stock Broking Indian Bank. Protecting the interests of the investors who invest in securities 2. Promoting the development of the securities market 3.

It gives central Govt. The stock exchanges determine their own listing regulations which have to conform to the minimum listing criteria set out in the Securities Contract Rules. Depositories Act, Companies Act, Introduction to Depository Need for a Depository System: To eliminate such issues, the Depository Act, was passed.

Multi-Depository system: Under the Depositories Act, various entities or organizations can offer the depository services. Dematerialization is when physical securities are converted into electronic form.

Securities held in a depository are fungible. No Folio or distinctive or Certificate numbers for Dematerialized Sec. The ownership of the Dematerialised securities remains with the investor only. Depository services through Depository Participants: The Depositories offer their services to the investors through their agents called Depository Participants. Depository All the account holders must sign Nomination is compulsory No such requirement Doesnt move or use balances in the account without account holders permission.

Balances wont fetch interest until participated through Stock Lending Mechanism. The operations of depositories in India are regulated primarily under the following: A foreign financial services institution approved by Government of India 9.

Promoters of a depository are also called as Sponsors. A depository company must have a minimum net worth of Rs crore.

SEBI registration is must for starting a Depository. Depository should be registered with SEBI before commencing business 2. Depository has a net worth of not less than Rs. Issuers enter agreement for Dematerialising their Sec with Depositories.

NISM-Series-VI: Depository Operations Certification Examination

No Such agreement is necessary if the Issuer is Depository or Government. Records to be maintained by Depository It should maintain all its records for a minimum period of last 5 years.

However, with the application of PMLA, the documents need to be maintained for a period of 10 yrs. Details of the holdings of the securities of beneficial owners as at the end of each day.

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Details of participants. Details of securities declared to be eligible for dematerialization in the depository. A Depository Participant is an agent of the Depository. In case of a stock-broker DP, the total value of the securities held by its clients, should not be more than times the net worth of the DP.

If the stock-broker DP's net worth is more than Rs. Who can Act as a Depository Participant? SEBI approves. A certificate of registration is valid for a period of five years from the date of issue. Application for renewal should be made three months before expiry date.

If the application for renewal is not received at SEBI by the expiry date of the certificate of registration, the intermediary shall: Cease to be an intermediary on the date of such expiry, 2. No application for renewal can be made after the date of expiry of registration. Conditions for grant of Registration: The applicant should not have been convicted in the last 5 years in any matter involving fraud, theft, forgery etc.

But if 3 or more years have passed since the punishment, the depository may also consider the application on its discretion. The applicant should have a minimum net worth of Rs. It should also appoint a Compliance officer for taking care of all compliance matters, as well as furnish all details of the Board of Directors. The DP should have a separate account called House Account for keeping its own securities, so that they are not mixed up with the beneficial owner's securities.

NISM Investment Adviser (Level 2) Workbook

Securities can be transferred only on beneficial owner's instructions. The DP should reconcile its records with Depository on a daily basis. Each participant shall furnish to the Depository every year, a copy of its audited financial statement by 30th September. Net worth certificate computed in a manner laid down in the Business Rules, issued by a chartered accountant on the basis of annual audited accounts of the DP by 30th September.

DP must have an agreement with its beneficial owners as per the bye-laws.

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No agreement is required for an International Multilateral Agency, who has entered into an agreement with the DP. It should maintain all records of any transaction of more than Rs. Prohibition of Assignment No DP can assign or delegate its functions as a depository participant to any other person without prior approval of the depository in which it is a participant.

DPs may additionally take for themselves insurance to cover risks like theft, fire, etc. Records of all the actions taken on the exception reports generated by the system. Maintenance of records of transactions 2.


Cash transactions greater than Rs 10 lakh or its equivalent in foreign currency 3. All suspicious transactions whether or not made in cash. On receipt of such notice, the depository may cease to provide any service or act for the DP. Backup of Data Business partners have to take back ups every day without fail.

The Issuer shall furnish information to the depository of any further issues such as rights, bonus, public offerings with details viz. However, the period may be relaxed by the depositories in case of bulk dematerialization requests. SEBI may suspend the certificate of registration if it is found that the DP has failed to comply any direction of SEBI, or to cooperate in any inspection or enquiry so conducted, or to furnish any information related to its activity, or to pay the annual fees to SEBI.

The securities in this account will be eligible for any corporate action benefit declared. Partnership Firms are not considered as members of a company. In case of individuals, if the application is of joint holders, Identity proof is required of all the holders. A Demat account can have maximum 3 holders. Client Types 1. Clearing Member CM 7. Foreign National 8. Mutual Fund 9. Trust Bank Intermediary The DP should ensure that the name in the Demat Account is identical to that which appears on the certificate s to be dematerialized, if any.

In the case of a joint account, the names of the holders should be in the same order as appearing in the share certificate to be dematerialized, if any. In case of CDSL, address of the persons authorized to open the account on behalf of the company is not needed to be submitted. Also, for CDSL cases, PAN card of the authorized signatories is not needed to be verified with the originals or maintained for record purpose.

Detail of guardian in case the account holder is a minor is required. PAN card of Minor is required. A broker member can have only one clearing account per stock exchange of which he is a member.

A demat account can have maximum three holders. Proof of identity is to be obtained for all the holders. For First holder proof of correspondence address as well as permanent address is to be obtained in case the correspondence address is not the same as the permanent address.

For joint holders proof of only permanent address is to be obtained. In addition, obtaining PAN Card details of all the holders is compulsory for all categories of demat account holder s. However this is not applicable in case of CDSL. HUF cannot nominate. In case of Power of Attorney Account Nomination facility is not available. A minor can nominate through a guardian. A minor can also be appointed as a nominee represented by a guardian.