Anti Money Laundering (AML) & Know Your Client (KYC) Policy

AML and KYC policy in compliance with Prevention of Money Laundering Act, 2002 and SEBI guidelines

This policy is prepared in compliance with the Prevention of Money Laundering Act (PMLA), 2002, SEBI Circular on Anti Money Laundering Standards, and the Guidelines on Anti-Money Laundering Standards and Combating the Financing of Terrorism issued by SEBI.

1. Objective and Scope

The objective of this AML Policy is to prevent money laundering and terrorist financing activities through the services offered by N.S. Fidai. This policy applies to all client relationships and transactions.

2. Know Your Client (KYC) Requirements

All clients are required to complete KYC verification before availing paid research services. KYC includes:

Identity Proof: PAN Card (mandatory for all Indian residents), Aadhaar Card, Passport, Voter ID, or Driving License.
Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 3 months), or Bank Statement.
Photograph: Recent passport-sized photograph.

3. Suspicious Transaction Reporting

N.S. Fidai is obligated to report suspicious transactions to the Financial Intelligence Unit – India (FIU-IND) as per PMLA requirements. Suspicious transactions include:

Transactions that appear to have no legitimate business purpose.
Transactions involving large amounts of cash inconsistent with client's profile.
Transactions from clients on the OFAC, FATF, or UN sanctions list.
Any transaction that raises suspicion of money laundering or terrorist financing.

4. Client Due Diligence (CDD)

Enhanced due diligence is performed for:

Politically Exposed Persons (PEP) and their family members
Clients from high-risk jurisdictions as identified by FATF
Non-face-to-face clients
Clients with complex beneficial ownership structures

5. Record Keeping

All KYC documents and transaction records are maintained for a minimum of five years from the date of cessation of business relationship, as required by PMLA.

6. Training and Awareness

The Research Analyst is committed to staying updated on AML/CFT regulations and best practices through NISM courses and SEBI training programs.

7. Reporting Authority

Suspicious transactions are reported to:
Financial Intelligence Unit – India (FIU-IND)
Ministry of Finance, Government of India
Website: fiuindia.gov.in (opens in new tab)

8. Non-Compliance Consequences

Any violation of this AML Policy may result in termination of client relationship and/or reporting to relevant regulatory authorities.

India Equity Network (Indeqnet Pvt. Ltd) | SEBI Reg. No.: INH000024930 | BSE Enlistment No.: 6932 | CIN: U80902MH2019PTC333802
Regulated by Securities and Exchange Board of India (SEBI) under SEBI (Research Analysts) Regulations, 2014.

Last Updated: 26th April 2026

Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. All investments carry market risk. Past performance is not indicative of future results.

India Equity Network (Indeqnet Pvt. Ltd) | SEBI Reg. No.: INH000024930 | BSE Enlistment No.: 6932
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