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

Meera wants to receive the statement of her demat account holdings and transactions. Under the depository framework, which statement must a DP provide to a beneficial owner at the specified frequency if there have been transactions in the account?

A DP must provide a transaction statement at least once a month for any period in which the account had transactions. Statements are not limited to account closure, five-yearly intervals or death of the holder. Regular statements let investors reconcile their holdings.

  1. AA transaction statement, at least once a month, for the period in which transactions occurredCorrect
  2. BA statement only when the investor closes the account
  3. CA holding statement only once every five years
  4. DA statement only on the investor's death

Explanation

A DP must give a beneficial owner a transaction statement at least monthly where transactions have occurred, and a holding statement at least once a quarter or as specified when there are no transactions. The other options describe frequencies that do not exist in the rules.

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