Policy
Sorm Policy
Securities Operation & Risk Management (SORM)

Brief : Exchange circular NSE/INSP/16536 dated December 15, 2010, NSE/INSP/27495 dated September 2, 2014 according to which, following categories of associated persons i'e' persons associated with a registered stock broker / trading member / clearing member in any recognized stock exchanges, who are involved in, or deal with any of the following

  1. Assets or funds of investors or clients.
  2. Redressal of investor grievances.
  3. Internal control or risk management.
  4. Activities having a bearing on operational risk.

shall be required to have a valid certificate of NISM Series VII _ operation & Risk Management (SORM) from National Institute of Market (NISM).

Definition of Associated Person:

"Associated Person" means a principal or employee of an intermediary or an agent or distributor or other natural person engaged in the securities business and includes an employee of a foreign Institutional investor or a foreign venture capital investor working in India.

As required in the aforesaid Circulars, Our employee Mr. Gurjit Singh associated with Vikson in deal with

  1. Assets or funds of investors or clients.
  2. Redressal of investor grievances.
  3. Internal control or risk management.
  4. Activities having a bearing on operational risk.

Has obtain the valid certification of NISM Series VII - Securities Operation and Risk Management (SORM)

Exemption
Associated persons handling the basic clerical / elementary functions in the aforesaid specified areas shall be exempted from obtaining the certification of NISM Series VII - Securities Operation and Risk Management (SORM). For this purpose, the company considers following activities as basic elementary lever / clerical level

Sr.No Internal Control or Risk Management. Redressal of Investor Grievances Activities having a being on operational risk and dealing with assets of funds of investors of clients
1 Inwarding or collateral’s / Cheques Inwarding of complaints Person performing maker entriesPerson performing maker entries
2 Person performing market entries Seeking documents from clients Maker entry in the database
3 Maker entry in the database Person performing maker entries Preparing of MIS
4 Photocopying, printouts,scanning of documents Maker entry in the database Generating of reports, Files
5 Preparing of MIS Photocopying, printouts,scanning of documents Photocopying, printouts, scanning of documents
6 Sending of letters / reports to clients,Exchanges, SEBI Preparing of MIS Dispatching documents to clients
7 Attending Calls, etc. Sending of letters / reports to clients, Exchanges, SEBI updation, data entry, uploading on SCORES Sending of letters / reports to clients, Exchanges, SEBI
8 -- Attending calls, etc Attending calls, etc
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