What is Authorised Person" (AP)

What is Authorised Person" (AP)

"Authorised Person" (AP) means any person – Individual, partnership firm, LLP or body corporate – who is appointed as such by a stock broker (including trading member) and who provides access to trading platform of a stock exchange as an agent of the stock broker.

A stock broker may appoint one or more authorised person(s) after obtaining specific prior approval from the stock exchange concerned for each such person. The approval as well as the appointment shall be for specific segment of the exchange.

All authorised persons are required to obtain a Certificate of Registration from the Exchange without which they are not permitted to deal in securities. SEBI has directed through circular no. MIRSD/DR-1/Cir-18/09 dated November 06, 2009, that no broker shall deal with a person who is acting as a authorised person unless he is registered with Exchange and it shall be the responsibility of the member-broker to ensure that his clients are not acting in the capacity of a Authorised person unless they are registered with the Exchange as authorised person.

It is mandatory for member-brokers to enter into an agreement with the Authorised person. The agreement lays down the rights and responsibilities of member-brokers as well as Authorised person.

AP Registration:

Surrender/Cancellation of AP Registration:

Change in Name/Trade Name,Address, Partner, Director of AP:

Change in Share holding Pattern without change in control and tantamount to change in control of AP:

AP Segment Change :

Issue of Duplicate Certificate of AP:

 



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