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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

A BO complains that he has not received the periodic statement of his demat holdings. As per depository norms, a DP must send a transaction statement to a BO at least how often when there have been transactions?

A DP must give the beneficial owner a transaction statement at least once a month when there have been transactions in the account. Where there are no transactions, a statement of holdings is given at least quarterly, so annual or on-request-only delivery is not compliant.

  1. AMonthly, if there were transactions in the accountCorrect
  2. BOnly once a year, regardless of transactions
  3. COnly when the BO personally asks
  4. DEvery five years

Explanation

Depository rules require the DP to provide a transaction statement at least monthly where transactions occurred, and holding statements at least quarterly where there were no transactions. Annual-only or on-request-only options contradict this.

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