Instructions/checklist for filling KYC form
A. Important points
- Self-attested copy of a Account number is mandatory for all clients, including Promoters /Partners /Karta /Trustees and whole-time directors and persons authorized to deal in cryptocurrencies on behalf of company/firm/others.
- Copies of all the documents submitted by the applicant should be self-attested and accompanied by originals for verification. In case the original of any document is not produced for verification, then the copies should be properly attested by entities authorized for attesting the documents, as per the below-mentioned list.
- If any proof of identity or address is in a foreign language, then translation into English is required.
- Name & address of the applicant mentioned on the KYC form, should match with the documentary proof submitted.
- If correspondence & permanent address are different, then proofs for both have to be submitted.
- Sole proprietor must make the application in his individual name & capacity.
- For non-residents and foreign nationals, (allowed to trade subject to RBI and FEMA guidelines), a copy of passport/PIO Card/OCI Card and overseas address proof is mandatory.
- For foreign entities, CIN is optional; and in the absence of DIN no. for the directors, their passport copy should be given.
B. Proof of Identity (POI)
List of documents admissible as Proof of Identity:
- Unique Identification Number (UID) Passport/ Voter ID card/ Driving license.
- Account number with photograph.
- Identity card/document with applicant's Photo, issued by any of the following: Central/State Government and its Departments, Statutory/ Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members; and Credit cards/Debit cards issued by Banks.
C. Proof of Address (POA)
List of documents admissible as Proof of Address: (*Documents having an expiry date should be valid on the date of submission.)
- Passport/ Voters Identity Card/ Ration Card/ Registered Lease or Sale Agreement of Residence/ Driving License.
- Utility bills like Telephone Bill (only landline), Electricity bill or Gas bill - Not more than 3 months old.
- Bank Account Statement - Not more than 3 months old.
- Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts.
- Proof of address issued by any of the following: Bank Managers of Scheduled Commercial Banks / Scheduled Co-Operative Bank / Multinational Foreign Banks / Gazetted Officer / Notary Public / Elected representatives to the Legislative Assembly/ Documents issued by any Govt. or Statutory Authority.
- For FII / sub-account, Power of Attorney given by FII / sub-account to the Custodians (which are duly notarized and/or apostilled or consul raised) that gives the registered address should be taken.
- The proof of address in the name of the spouse may be accepted.
Internet & wireless technology-based investing facility provided by an exchange to the client
(All the clauses mentioned in the “Rights and Obligations” document(s) shall be applicable. Additionally, the clauses mentioned herein shall also be applicable.)
- Exchange is eligible for providing Internet Based investing (IBT) and cryptocurrencies investing through the use of wireless technology that shall include the use of devices such as mobile phone, laptop with data card, etc. which use Internet Protocol (IP). The exchange shall comply with all requirements applicable to internet-based investing/cryptocurrencies investing using wireless technology as may be specified by HONG KONG SFC & the Exchanges from time to time.
- The client is desirous of investing/investing in cryptocurrencies and for this purpose, the client is desirous of using either the internet-based investing facility or the facility for cryptocurrencies investing through the use of wireless technology. The exchange shall provide the Stock broker’s IBT Service to the Client, and the Client shall avail of the Stock broker’s IBT Service, on and subject to HONG KONG SFC/Exchanges Provisions and the terms and conditions specified on the Stock broker’s IBT website provided that they are in line with the norms prescribed by Exchanges/HONGKONG SFC.
- The stock broker shall bring to the notice of the client the features, risks, responsibilities, obligations, and liabilities associated with cryptocurrencies investing through wireless technology/internet/smart order routing or any other technology that should be brought to the notice of the client by the exchange.
- The exchange shall make the client aware that the Stock Broker’s IBT system itself generates the initial password and its password policy is as stipulated in line with norms prescribed by Exchanges/HONG KONG SFC.
- The Client shall be responsible for keeping the Username and Password confidential and secure and shall be solely responsible for all orders entered and transactions are done by any person whosoever through the Stock broker’s IBT System using the Client’s Username and/or Password whether or not such a person was authorized to do so. Also, the client is aware that authentication technologies and strict security measures are required for the internet investing/cryptocurrencies investing through wireless technology through an order routed system and undertakes to ensure that the password of the client and/or his authorized representative are not revealed to any third party including employees and dealers of the exchange.
- The Client shall immediately notify the exchange in writing if he forgets his password, discovers a security flaw in Stock Broker’s IBT System, discovers/suspects discrepancies/unauthorized access through his username/password/account with full details of such unauthorized use, the date, the manner and the transactions effected pursuant to such unauthorized use, etc.
- The Client is fully aware of and understands the risks associated with availing of service for routing orders over the internet/cryptocurrencies investing through wireless technology and the Client shall be fully liable and responsible for any and all acts done in the Client’s Username/password in any manner whatsoever.
- The stock broker shall send the order/trade confirmation through email to the client at his request. The client is aware that the order/trade confirmation is also provided on the web portal. In case the client is investing using wireless technology, the exchange shall send the order/trade confirmation on the device of the client.
- 9. The client is aware that investing over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. are susceptible to interruptions and dislocations. The exchange and the Exchange do not make any representation or guarantee that the Stock broker’s IBT Service will be available to the Client at all times without any interruption.
- 10. The Client shall not have any claim against the Exchange or the exchange on account of any suspension, interruption, non-availability, or malfunctioning of the Stock broker’s IBT System or Service or the Exchange’s service or systems or nonexecution of his orders due to any link/system failure at the Client/Stockbrokers/Exchange end for any reason beyond the control of the exchange/Exchanges.
1. I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I/we undertake to inform you of any changes therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I am/we are aware that I/we may be held liable for it.
2. I/We confirm having read/been explained and understood the contents of the document on policy and procedures of the stockbroker and the tariff sheet.
3. I/We further confirm having read and understood the contents of the 'Rights and Obligations' document(s) and 'Risk Disclosure Document'. I/We do hereby agree to be bound by such provisions as outlined in these documents. I/We have also been informed that the standard set of documents has been displayed for Information on the stock broker's designated website if any.
1. Placement Instructions
I understand that you require written instructions from me for placing/modifying/canceling orders. However, since it is not practical for me to give written instructions for placing/modifying/canceling orders. Even If I have the facility to trade online through the Internet and wireless technology, I may have to place orders by physically visiting/calling/emailing the call center/branch specified for the said purpose by Helios in case of breakdown of internet connectivity or other similar reasons. I hereby request you to kindly accept my verbal orders/instructions, in person or over the phone, and execute the same. I understand the risk associated with the placement of verbal orders and accept the same. I shall not disown orders under the plea that the same were not placed by me provided
2. Errors and Omissions
I understand and agree that inadvertent errors may occur while executing orders placed by me. In such circumstances, Helios shall make all reasonable efforts to rectify the same and ensure that I am not put to any monetary loss. I understand and agree that I shall not hold Helios responsible beyond this and claim additional damages/loss. I understand and agree that my request to modify or cancel the order shall not be deemed to have been executed unless and until the same is confirmed by Helios.
3. No Market Manipulation
I undertake not to execute transactions, either singly or in concert with other clients, which may be viewed as manipulative trades viz. artificially raising, depressing, or maintaining the price, creation of artificial volume, synchronized trades, cross trades, self trades, etc or which could be termed as manipulative or fraudulent trades by HONG KONG SFC/Exchanges. In case I am found to be indulging in such activities, Helios has every right to inform the Exchange/HONG KONG SFC/other regulatory authority of the same and suspend/close my investing account.
4. Not Debarred by any Regulator
I confirm and declare that there is no bar on me imposed by any Exchange or any regulatory and/or statutory authority to deal in cryptocurrencies directly or indirectly. I agree to inform Helios, in writing, of any regulatory action taken by any Exchange or regulatory/ statutory authority on me in the future. In case I fail to inform the same and Helios on its own comes to know of such action, Helios has the right to suspend/close my investing account and refuse to deal with me. Also, Helios can at its sole discretion, close all the open positions and liquidate collaterals to the extent of trade- related debit balances, without any notice to me.
5. PMLA DECLARATION
I declare that I have read and understood the contents and the provisions of the PMLA Act, 2002, which were also explained to me by Helios officials. I further declare that I shall adhere to all the provisions of the PMLA Act, 2002.
I further undertake and confirm that;
- I do not have any links with any known unlawful persons/institutions
- I am a genuine person and not involved or indulge knowingly or assisted, directly or indirectly, in any process or activity connected with the proceeds of crime nor I am a party to it. The investment money is derived from proper means and does not involve any black or Hawala money in any manner.
I hereby indemnify and hold Helios, its Directors and employees harmless from and against all claims, demands, actions, proceedings, losses, damages, liabilities, charges, and/or expenses that are occasioned or may be occasioned to the Helios directly or indirectly, relating to bad delivery of cryptocurrency, whether authorized or unauthorized and fake/forged/stolen documents introduced or that may be introduced by or through me during the course of my dealings/ operations on the Exchange(s) and/ or proof of address, identity and other supporting/ documents provided by me at the time of registration and/ or subsequently.
INDEMNITY OF JOINT HOLDINGS
I hereby agree to indemnify and hold Helios harmless from any trade-related claims, demands, actions, proceedings, losses, damages, liabilities, charges, and/or expenses arising from transactions in cryptocurrencies held jointly by me with any other person or persons, if any.
7. NRI DECLARATION
I understand that if the sole/first applicant has or attains NRI Status, investments in a scheme of mutual funds can be made only upon providing Foreign Inward Remittance Certificate (FIRC) to Helios every time the investment is made.
8. THIRD-PARTY PAYMENTS
Helios shall have the prerogative to refuse payments received from any bank account where the client is not the first holder of which is not mentioned in the KYC or which the client has not got updated subsequently by submitting a written request along with adequate proof thereof as per proforma prescribed by Helios. Helios shall not be responsible for any loss or damage arising out of such refusal of acceptance of payments in the situations mentioned above. However, due to oversight, if any such third-party payment has been accepted by Helios and the credit for the same has been given in the client's ledger, Helios shall have the right to immediately reverse such credit entries on noticing or becoming aware of the same. In such a case, Helios reserves the right to liquidate any of the open positions and/or any of the collaterals received/ held on behalf of the client. Helios, its Directors, and employees shall not be responsible for any consequential damages or losses.
9. DISCLOSURE OF PROPRIETARY INVESTING BY HELIOS
Pursuant to HONGKONG SFC Circular Number HONGKONG SFC/MRD/SEC/Cir-42/2003 dated November 19, 2003, Helios discloses to its clients about its policies on proprietary trades. Helios does proprietary trades in the cash and derivatives segment at HKEX.
Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Cryptocurrencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not generally backed or supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency for cryptocurrency, which may result in the potential for a permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear. Cryptocurrencies are not covered by either FDIC or SIPC insurance. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency.
Purchasing cryptocurrencies comes with a number of risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. In addition, cryptocurrency markets and exchanges are not regulated with the same controls or customer protections available in cryptocurrency, option, futures, or foreign exchange investing. There is no assurance that a person who accepts a cryptocurrency as payment today will continue to do so in the future. Investors should conduct extensive research into the legitimacy of each individual cryptocurrency, including its platform, before investing. The features, functions, characteristics, operation, use and other properties of the specific cryptocurrency may be complex, technical, or difficult to understand or evaluate. The cryptocurrency may be vulnerable to attacks on the security, integrity or operation, including attacks using computing power sufficient to overwhelm the normal operation of the cryptocurrency’s blockchain or other underlying technology. Some cryptocurrency transactions will be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that a transaction may have been initiated. Cryptocurrency investing requires knowledge of cryptocurrency markets. In attempting to profit through cryptocurrency investing you must compete with traders worldwide. You should have appropriate knowledge and experience before engaging in substantial cryptocurrency investing. Any individual cryptocurrency may change or otherwise cease to operate as expected due to changes made to its underlying technology, changes made using its underlying technology, or changes resulting from an attack. These changes may include, without limitation, a "fork," a "rollback," an "airdrop," or a "bootstrap." Such changes may dilute the value of an existing cryptocurrency position and/or distribute the value of an existing cryptocurrency position to another cryptocurrency. Helios Crypto retains the right to support or not support any of these changes.
Any cryptocurrency may be cancelled, lost or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, attacks, or failures to operate as intended. The nature of cryptocurrency means that any technological difficulties experienced by Helios Crypto may prevent the access of your cryptocurrency. Helios Crypto for the benefit of its customers may not be sufficient to cover all losses incurred by customers. Cryptocurrency investing can be extremely risky. Cryptocurrency investing may not generally be appropriate, particularly with funds drawn from retirement savings, student loans, mortgages, emergency funds, or funds set aside for other purposes. Cryptocurrency investing can lead to large and immediate financial losses.
The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a particular cryptocurrency suddenly drops, or if investing is halted due to recent news events, unusual investing activity, or changes in the underlying cryptocurrency system.
The greater the volatility of a particular cryptocurrency, the greater the likelihood that problems may be encountered in executing a transaction. In addition to normal market risks, you may experience losses due to one or more of the following: system failures, hardware failures, software failures, network connectivity disruptions, and data corruption.
Several federal agencies have also published advisory documents surrounding the risks of virtual currency. For more information see, the CFPB’s Consumer Advisory, the CFTC’s Customer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.
Please be aware that information regarding terms and conditions are provided on a best-efforts only basis by PNPCOIN based on the current information available. PNPCOIN does not guarantee the accuracy or timeliness of the information provided. The terms and conditions may be subject to change without prior notification. Prior to submitting instructions to PNPCOIN regarding a corporate action, Customers must conduct research through an independent source or by contacting the issuer and/or reviewing information on the issuer's website. By submitting instructions to PNPCOIN regarding a corporate action, Customers certify that they have read all relevant documents concerning the corporate action and that any instruction is in compliance with the terms of the corporate action and offer documentation including but not limited to compliance with any residency restrictions or other eligibility limits.