9th ANMI International Convention
Shri Ankit Ajmera, Convention Convener, ANMI informed all the Council Members that Hon. Finance Minister, Hon. Vice President, and Ministers and Secretaries of Ministry of Finance and other Ministers were also approached for giving their consent to grace ANMI Convention as Guest of Honours but due to some pre occupancies and Ministry Meetings we were not able to get them on board for the convention.He expressed before the council Members aboutparticipation All the Exchanges like NSE, BSE, MCX, MSE and NCDEX in ANMI Convention and part of inaugural session of ANMI Convention.
He also informed that out of ANMI Presentation on Pre- Budget for Union Budget 2018-19, some major issues will be part of “ANMI Manifesto” which will be unveiled during inaugural session of Convention by Chief Guest and Guest of Honours.
Shri Ankit Ajmera also informed that Media Channels like Zee, CNBC etc. are also covering this event and for the first time social media platform like twitter etc. being used for invitation for ANMI Convention, so that more members can participate in this event and make it a grand success.
He thanked all the members of the Board in reposing confidence in him and also the convention committee members who worked tirelessly with him for the convention
How to Brand Equity Cult (Like Mutual Funds)
National Council Members proposed that ANMI should make some more efforts to brand Equity investment like Mutual funds are doing (SahiHai…) for raising investments in Mutual Funds.
Branding of Equity investment will encourage investors to invest in equity.
All the Council Members were of the opinion that ANMI should appoint a PR agency for this initiative proposed by the President so that Branding activity can be monitored and it can be reached to more Members as aimed by ANMI. Appointment of PR Agency is also very helpful as every update/ action taken by ANMI National Councilcan be informed to the Members on immediate basis as well as what are the decisions taken in the board Meeting & other committee meetings can be published for Members information.
ANMI National Council has 2-3 PR Agency proposals and very shortly ANMI will appoint one of them for its work.
ANMI President & Council Members had Meeting with Hon. Minister of State in Ministry of Finance Mr.PonRadhakrishnan, Shri Praveen Garg, Joint Secretary, Ministry of Finance on Pre Budget Memorandum for union Budget 2018-19.
ANMI had discussion regarding Major Issues like Rebate under section 88E in lieu of STT, GST rate reduction, abolition of Dividend Distribution Tax and Industry status to Broking community etc.
MOF also assures ANMI Officials that ANMI will be given the opportunity to participate in the Meeting regarding Budget with Shri ArunJaitely, Hon. Union Minister for Finance & Corporate Affairs.
For the first time Shri Vikram Limaye, MD & CEO, NSE invited ANMI Presentation on Pre budget for Union Budget 2018-19 to consider ANMI Presentation with Exchange Presentation.
National Council Member proposed that ANMI should share/ forward its presentation on pre- budget memorandum with other associations like FICCI, CPAI, DPAI etc. and take their perspective and opinion on the issues included in our Pre- budget Memorandum.
Article for ANMI Journal
ANMI Journal Convenorinformed all the National Council Members about new addition in ANMI Journal “ANMI at Work”. This new column will update all ANMI Members about every activity at ANMI Regions like Seminars and Meetings with Authorities on current issues.
The purpose of insertion of this column is to forward all the information to Members on Monthly basis.
Apart from that for ANMI Journal articles we will approach PWC who had already been agreed for article for our Journal and we will further approach all the Speakers in ANMI Convention to provide one article related to Capital market affecting Members.
Appointment of CEO
National Council Members discussed that ANMI should appoint a Chief Executive Officer (CEO) for communicate with Regulator and the Exchanges.
One person should be designated for all the communication between Authorities and ANMI and Compliance related Matters and Represent ANMI before the Authoritieswhenever instructed by the National Council.
Con Call Facility on Weekly Basis
All the Council Members discussed that ANMI should start facility of Con- call on weekly basis. ANMI National Council Members, Executive Committees Members should be part of this Conference Call. Through this con call facility all the pending matters and current issues for persuasion can be discussed and action can be taken on immediate basis.
Next National Council Meeting
It was decided by All the Council Members to have next National Council Meeting in January, 2018 in Kolkata.
ANMI got the opportunity to attend ASF (Asia Securities Forum) round table at Tokyo from 23rd to 27th October, 2017.
Asia Securities Forum (ASF) was established in 1995, based on an initiative by the Japan Securities Dealers Association. The Purpose of ASF is to exchange views and information among the securities industry in the Asia-Pacific Region and to contribute to the development of securities markets and economic growth in the region.
Every Year it organizes This Round Table Event which is attended by all the Members of ASF to discuss Current market related issues of respective Countries, Regulatory framework as well as growth expectations of the Market.
ANMI is also a Members of Asia Securities Forum and take participation in the events. This year ASF Round Table was attended by Shir Narinder Wadhwa, Director & Chairman of ANMI Membership (Institution and International) Committee.
Participation and Event detail:
ASF Round Table was attended by 22 participants of different countries. Many of them were regulators of that country or Associations with SRO Status.
During ASF Round Table Event, Participants had various knowledgeable experiences by involving various activities like:
ANMI Presentation in Round Table Discussion:
During Round Table Discussion, Mr. Narinder Wadhwa had presentation on “Over regulation of optimal regulation” which was well appreciated by all.
Mr. Narinder Wadhwa got the opportunity to lead in various discussions during Round Table. He also had discussion with Mr. Shigeharu Suzuki (Chairman and CEO) Japan Securities Dealers Association (JSDA). During the interaction with Mr. Suzuki, discussion was held regarding possible collaboration and knowledge sharing arrangements with ANMI in financial literacy and Education at school and Graduation Level and also on SRO issue for which they also assures their participation.
Association of National Exchanges Members of India (ANMI) works towards inculcating best practices in the industry and represent the matters pertaining to the members to Government of India, SEBI and Exchanges. In doing so ANMI works hand in hand with the above agencies for structured and planned growth of the Capital Markets and its participants in International Forum for Investor Education – which in turn is supported by IOSCO.
ANMI represents its Member views and current Market developments before other participants of different countries and also try to bring back the developments in other markets where our markets are not available to reach so that it can educate its members to the new market areas and best practices.
Session on BHARAT 22 Index & Equity Market Outlook was organized by BSE in association with CICI Prudential Asset Management Company Ltd on Wednesday, October 4th, 2017 at International Convention Hall, 1st floor, P. J towers, Dalal Street, Fort, Mumbai.
These sessions were conducted to showcase changing dynamics of Indian equity markets and provide a unique opportunity to understand the fundamentals of newly launched S&P BSE Bharat 22 Index, which tracks the performance of 22 select companies.
The program began with welcome. Mr. Ashish Chauhan, Chief Executive Officer of the BSE, in his opening remarks addressed the crowd on the topic and highlighted few milestones and experiences of the industry. He also mentioned about the future changes in the industry which may bring new opportunities for development and success of the economy.
Mr. S. Naren (ED & CIO – ICICI Prudential AMC Ltd) discussed the cycles and phases of the market namely Bust phase, Best phase , Boom phase and Bubble phase and thereby explaining the actions to be taken in every phase such as during Bust phase- Small cap is best, Best phase- Invest Everywhere, Boom phase- Practice Asset management, Bubble Phase- Cut Equity Weightage.
Few key points included in the presentation where as follows:
The event was attended by ANMI members along with Sub Brokers, traders, dealers and even fresh graduates. The queries raised by the participants were well responded to by the speaker. The session was well attended and appreciated by members and other participants.
A seminar on Mutual Fund Offerings (NMF II) was organized by ANMI-WR on Wednesday, 15th September 2017 at the NSE Auditorium, Mumbai.
The sessions were focused on briefing the Members on the Mutual Fund Offerings (NMF II). It emphasized on the opportunities to market participants and the benefits of investing in the capital markets.
A short movie on “Investor Awareness” was presented before the seminar. The main motive was to reach out to people from all walks of life and create awareness about the benefits of investing in the capital markets and how to go about making wise investment decisions.
At the outset, Ms. Neha, Sr. Executive, WIRC welcomed the gathering. Mr. Kamlesh Shah, Vice–Chairman, ANMI-WR welcomed the members for the session.
Mr. Chetan Doshi, Assistant Vice President, Mutual Funds Business Development, NSEIL was the speaker for the session. He addressed the audience and appreciated the efforts made by ANMI for organising this seminar.
Following points were discussed in his presentation:
The session was very informative and interactive and was well attended by members. Mr. Chetan Doshi clarified the doubts of attendees regarding the Mutual Fund Offerings and its required compliances.
Mr. Ankit Ajmera, Vice – Chairman, ANMI - WR proposed vote of thanks. He thanked all the speakers, NSE team and the members.
Second Meeting of Members of National Council for FY 2017-18 was held on at the Le Meridien New Delhi, Windsor Place, Janpath, New Delhi- 110001 onSaturday, September 2nd, 2017.
Mr. K Suresh, National President, ANMI welcomes all the National Council Members and Regional Chairman to make it convenient to attend the Meeting.
During the Meeting Progress Report of ANMI Regions as well as ANMI Committees were placed by the respective Regional Chairman and Committee Chairman.
ANMI Consolidated Financial Statements as on March 31st, 2017, Auditors Report as on 31st March, 2017 and Directors Report for FY 2016-17 were placed before the National Council for Approval and adoption.
Notice of 21st Annual General Meeting (AGM) of ANMI wasplaced before the council Members and National council also approved the same which is scheduled to be held on 28th, September 2017.
All the National Council Members discussed the Preparation of Pre- Budget Memorandum 2018-19 and various points were discussed to include in the memorandum. Apart from this, President Shri K Suresh also discussed with the Members the ways and means to develop Members business.
During the Meeting, Council Members also discuss the structure and theme of ANMI International Convention scheduled in November,2017.
Mr. K Suresh also informed Council Members about ANMI’s presentation to NSE, BSE and SEBI on the issue of “Enhanced Supervision”, “discussion paper on the growth and development of Equity derivatives market in India”. All the Members appreciated the same.
Meeting was concluded with vote of Thanks by Mr. K Suresh, President, ANMI.
Since the importance of capital markets cannot be under-emphasized for a developing economy like India which needs significant amount of capital for development of strong infrastructure. Against this dynamic background, the Capital Market Committee of PHD Chamber of Commerce and Industry in association with ANMI-NR organized Annual Convention on “Capital Market - Vision 2020” on Saturday, 2 September 2017 at 10.00 a.m. at Hotel Le Meridien, New Delhi to discuss the various aspects of the market along with the road map for the better future.
ANMI-NR in association with BSE organized a Seminar on” Indian Capital Markets---The Way Ahead “on July 20, 2017 at Russian Center of Science and Culture, New Delhi.
Shri. S. K. Gupta Chairman ANMI-NR welcomed ANMI & Guest Speakers from BSE Mumbai and all other participants. He thanked them for sparing their valuable time to attend the program on the working day. He extended his valuable views on the growth of the capital market and suggested that it depends on reviving investor confidence by encouraging them to invest for long term. He was of strong view that long term investments is the only key to wealth creation and increasing investor base resultantly growth of Capital Market . He suggested that BSE should protect the interest of brokers who happen to be prey of fraudulent trading activities by some unscrupulous elements.
Mr. Ashishkumar Chauhan MD & CEO BSE Ltd. apprised participants that how he was concerned about the growth of capital Market and had been putting his tireless efforts in this direction since last eight years. He told that during this period he not only did his best to revive BSE in terms of turnover on all fronts viz. technology, products etc and doing better in currency trading and IPOs undertaken by BSE . He endeavored to establish INX at Ahmadabad Gift City. He apprised participants for changes in the transaction charges to benefit the Brokers. He mentioned about the IPOs being taken up by BSE and made a special mention of the New Debt Products of Govt. Bonds etc. being tried to be handled by them, after necessary approvals.
The BSE Business Development team gave presentations of BSE efforts to enhance income creation of members and ultimate benefit the investors at large.
Shri. Ashok Agarwal CMD Globe Capital Markets Ltd. put forth his views about the Capital Market and showed his confidence that it has a very bright future providing ample opportunity of wealth creation on long term perspective ,as compared to other avenues.
A Seminar on “Impact of GST on Stock Brokers" was organized jointly by NSE and ANMI-WR on 9th August 2017. The session was mainly focused on guiding the members on the implementation difficulties faced in compliance with the new GST model by the Stock Brokering Industry.
At the outset Mr. J Ravichandran, Group President, NSE welcomed the audience. He asserted that introduction of the GST model is a significant development that is set to transform the Indian taxation system. He highlighted the positive impact of GST leading to substantial economic growth, simplified procedures, boost export, increase GDP and employment. Mr. Kamlesh Shah, Chairman – ANMI WIRC, thanked NSE officials for conducting the seminar at the right time when all members were apprehensive about GST and its impact.
Mr. Yatrick Win, CFO, NSE in his opening remarks welcomed all the eminent speakers & members. He believed that with the enactment of GST, it will be imperative for stock market, as it will send positive message to foreign investors to believe in the stable Indian tax policy.
Mr. MS Mani, Partner- Deloitte India put forth his analysis on the subject matter. He touched almost all the Sections of GST law and gave his expert opinion in a very comprehensive manner. He said that though the GST design and structure may run short of expectations, it will still mark a significant improvement over the current Indirect Tax Regime. He interacted with members and tried to understand the necessity of analyzing its impact and finding the best and suitable solutions to handle their business.
Mr. Amit Bothra from Ernst & Young LLP discussed the compliance aspects from the stand point of GST implementation. He made clarifications on the important related issues like Place of Supply, Input Tax Credit, Registration, Tax Invoice, Accounts & Records, Returns, Payment of Taxes and Compliance Challenges etc. He also emphasised on registration of every fixed establishment through which broker makes a supply. He strongly opined that for successful implementation of GST in India it will require a great level of coordination from all corners of business.
The idea of having the session was to provide opportunity to members for getting their operational and fundamental doubts cleared regarding GST. The program was appreciated by one and all for the contents and relevance of the topics which were discussed and well presented by renowned industry speakers.
The seminar was well attended by around 300 members and was followed by dinner.
ANMI had Sixth Quarterly Meeting with NSE Officialson Monday, August 7th, 2017at National Stock Exchange of India Ltd., Board Room,5th Floor, Exchange Plaza, BandraKurla Complex, Bandra (E ) Mumbai- 400 051.
The meeting started withfelicitation of Shri Vikram Limaye, MD & CEO, NSE by National President Shri K Suresh, ANMI.
Shri Vikram Limaye greeted all the ANMI officials and healso expressed ANMI officials that feedback from Members are always welcome by NSE and relationship between NSE and Association should be transparent and strong to forward benefits to NSE Members.
He also discussed about different ways to make our markets more efficient and need to introductionof more attractive products in the Market.
Shri K Suresh briefly describes ANMI Structure, Regional Offices, Chapters and working environment of ANMI. He also looked forward to more frequent interactions with NSE so as to build a strong and transparent relationship with exchange and for overall good of members and markets.
Shri Vikram Limaye also discussed the need to educate investors and for this purpose Shri K Suresh assuredthat joint programs/ Seminars will be held with NSE.
During the Meeting ANMI Officials discussed various points with NSE officials prepared on the basis of feedback received from ANMI Members like:
All the points were discussed and NSE officials have given clarification on all related points and assurance on certain points to be further examined by them. The Meeting was very interactive and informative.
The following Senior ANMI officials and Attendees were present for the Meeting– Shri Rajesh Baheti, Shri NareshTejwani ,Shri AtmaramMathran, Shri Kamlesh Shah ,Shri HemantKakkar, Shri Paresh Shah, Shri Anil Changoiwala, Shri S. K. Gupta , Shri K. K. Maheshwari, Shri M. Ravi, Mrs.PoojaAgarwal, Ms. Rima Shrivastava, Mr.Nitin Kumar Singhal.
ANMI WR conducted a seminar on “Options Simplified” on Saturday, 5th August 2017 at the Churchgate. The options market has attracted attention more than ever before. The concepts of Options are multi-fold and are applicable across all financial markets: equities, currencies - domestic and global. The program was designed to give inputs related to bullish, bearish & neutral market strategies.
Mr. Vishal Malkan, Co-founder - Malkansview Training Institute who is a Master Trainer in the area of technical analysis, trading psychology and personal motivation, was the speaker of the session.
The seminar was more focused on basics of options, the right time to buy options and right time to sell the options by using technical analytical tools to participate in the options trade, avoiding common mistakes a trader does. The Seminar discussed the following:
The event was attended by ANMI members along with Sub Brokers, traders, dealers and even fresh graduates. The queries raised by the participants were well responded to by the speaker. The session was appreciated by members and other participants.
To bridge the distance, ANMI WR in association with NSE organised a Seminar on Margin Trading & Enhanced Supervision for the Pune Members on the morning of Saturday, 5th August 2017 at Bund Garden.
Since there were lot of apprehension and concern amongst the member brokers on the SEBI’s directions on “Enhance Supervision of Brokers” which put under pressure of paper work and filings upon the member-brokers therefore ANMI officials had engaged with regulators and discussed at various stages on simplification of weekly and monthly filing.
The main agenda was to give detail information to the members in respect to the compliance of Margin Trading & Enhanced Supervision and increase participation of the Pune members in ANMI-WR programs.
Mr. Kamlesh Shah, Chairman, ANMI – WIRC welcomed the members for the session at Pune. Mr. Dinesh Soni, Head – Inspections, NSEIL & Mr. Bireshwar Chatterjee – AVP & Head Western Regional Office- Regulations, NSEIL represented the exchange and made a detailed presentation on the said subject. The exchange offered to hold regular seminars at the NSEIL office in Pune to update the members and address their issues on continuous basis.
The session was well attended appreciated by members. NSE team clarified the doubts of attendees on Margin Trading & Enhanced Supervision and also some other compliance related queries of members.
Mr. Ankit Ajmera, Vice – Chairman, ANMI - WR proposed vote of thanks. He thanked all the speakers, NSE team and the members for making the Seminar a grand success.
The meeting was followed by lunch.
Capital markets in any country play a pivotal role in the growth of economy and meeting the country’s socioeconomic goals. They are an important constituent of the financial system given their role in the financial intermediation process and capital formation of the country. The importance of capital markets cannot be under-emphasised for a developing economy like India which needs significant amount of capital for development of strong infrastructure.
ANMI- WIRC in association with Bombay Stock Exchange organised a seminar on “Indian Capital Markets – The Way Forward” on July 25th, 2017 at MCA Club. Mr. Ashish Chauhan, Mr. Kamlesh Shah, Ms. Deena Mehta and Mr. Sameer Patil were the distinguished speakers at the event.
The program began with welcome by Ms. Rima Srivastava, Secretary ANMI- WIRC. Mr. Kamlesh Shah, Chairman, ANMI-WR in his opening remarks addressed the crowd on the topic and highlighted few milestones and experiences of the industry. He also mentioned about the future changes in the industry which may bring new opportunities for development and success of the economy of India.
Ms. Deena Mehta - MD Asit C Mehta, spoke about Future of Indian Capital Markets and focused on the opportunities and threats the brokers may face and thereby mentioning the necessary efforts to be taken by them to gain best out of it.
Mr. Sameer Patil, Head – Business Development, BSE Ltd presented a detailed presentation on the latest developments at BSE like BSE Currency Derivatives, BSE SME Platform, BSE Star Mutual Fund and several Technology initiatives. He also mentioned the revised trading charges of BSE and its benefits to the traders.
Mr. Ashish Chauhan , MD & CEO – BSE, addressed the audience in relation to the major innovations and techniques which reflected tremendous rise in trading, also specifically mentioning how derivatives turned out to be a boon to capital markets and providing new ideas and views in order to increase distribution in the market.
In addition to outlining the Dynamics of Global and Indian Equity, Derivatives & Forex markets the event provided a unique opportunity for Business Networking among the stakeholders of capital markets.
The members queries were well addressed by the speakers in the Open session. The program concluded with vote of thanks proposed by Mr. Neeraj Kulshrestha, COO-BSE, The seminar was appreciated by one and all and was followed by dinner.
NSE in association with ANMI-NR held a Business development and Technology meet on on 6th July, 2017 at Hotel Tuquoise Chandigarh & 7th July, 2017 at Hotel Radisson Jaipur.
Shri Gaurav Kapoor AVP & Head Northern Region NSE welcomed the participants for warm response and assured that NSE is trying its best to support the members for development of business in providing technology and other services at reasonable and competitive rates by the vendors of repute.
Shri S. K. Gupta Chairman ANMI-NR welcomed the NSE Senior Officials from Mumbai & Delhi and appreciated the efforts of NSE for holding Members Meets at ANMI-NR Punjab and Rajasthan Chapters and also took the opportunity to put forth the issues of ANMI members.
Mr. Arvind from NSE Mumbai, gave presentation on Member Service & Technology, covering mainly - Convenience & Efficiency, Technology etc.
With the initiative of Shri S. K. Gupta Chairman ANMI-NR a session on GST for Rajasthan Chapter Members at Jaipur was arranged, following NSE program. CA Vaibhav Jain, authority on the subject, gave a comprehensive presentation on GST with special reference to compliance requirements of brokers. He satisfied all the queries of members and was appreciated by one and all the participants.
The event was attended by maximum number of Chapter members at both places.
Due to GST implementation approaching very close and the members still having numerous queries on the subject, ANMI-NR organized a program "Overview of GST Issues" on Thursday 29th June,2017 at Russian Centre of Science and Culture New Delhi.
Shri S. K. Gupta Chairman ANMI-NR in his welcome note thanked all the participants for attending in large numbers leading to the success of the event.
Speaker CA Vaibhav Jain gave a comprehensive presentation on GST, covering Compliance and Various related issues. He, meticulously discussed GST with special reference to Stock Brokers and Commodity Brokers related Issues, Complexities and Practical Solutions.
He made clarifications on the important related issues like Place of Supply, Input Tax Credit, Registration, Tax Invoice, Accounts & Records, Returns, Payment of Taxes and Compliance Challenges etc. He took questions of the members in large number and satisfied each and every query meticulously.
All the participants, appreciated the program, attended by around 190 persons.
Shri Shagun Gupta, Vice- Chairman, gave vote of thanks and the event was concluded by members networking on Hi-Tea.
NSE in association with ANMI-NR held a Business development and Technology meet on 12th June, 2017 from 05.30 pm onwards at Russian Centre of Science and Culture 24 Feroz Shah Road, near Mandi House, New Delhi.
Shri Gaurav Kapoor AVP & Head Northern Region NSE welcomed the participating members for massive response and assured that NSE is trying its best to extend its support to members for development of business in terms of technology and other services being made available at reasonable rates by the vendors of repute.
Shri S. K. Gupta Chairman ANMI-NR in his address welcomed the NSE Senior Officials from Mumbai and took the opportunity to apprise them about the issues of ANMI members viz; Revision of NEET Charges, Enhanced supervision of Brokers , Interest on deposits of members etc.
Mr. Nagendra K., Chief Business Officer NSE gave Presentation on Business overview of past year and Trends. Mr. Arvind Goyal, Asstt. Vice President Member Service Department NSE, gave his presentation on Member Service & Technology. The presentation covered the following areas :-
Mr. Ravi Varanasi Chief Business Development took Q & A session and assured that NSE is trying to do its best for providing best technology at competitive rates and other issues will tried to be addressed to the possible extend. He told that issue of NEET Charges is under active consideration of NSE.
Mr.Hari K Chief Business Officer NSE gave a vote of thanks and the event attended by 200(approx) was concluded with Dinner.
ANMI-NR organized Members Meet on Enhanced Supervision of Brokers on 6th June, 2017 at 4pm onwards at Constitution Club of India New Delhi, to discuss and gather their views on the issue and prepare an effective ANMI representation for submission in the forthcoming NSE / SEBI meetings.
Shri S. K. Gupta Chairman in his welcome address thanked all the participants for joining this crucial meet and requested to deliberate in large numbers to provide their valuable input. He assured of putting best efforts to push forward the appropriate suggestions and concerns of members.
A large number of members participated in deliberations though having divergent perceptions, contributed with their inputs which were further discussed thoroughly. Some dissented with the date of implementation of Enhanced Supervision from 1st July, 2017 simultaneously with GST which is practically inappropriate. Some had the view that there should be no weekly reporting, it may be Qtrly / Hly. He further emphasized that as regards Appointment of Internal Auditors SEBI is overriding provisions laid down in Company Law. Further Qtly settlement being a long back process must be replaced with Hly or Yrly so as to give relief to brokers.
A senior member was of the view was that the appropriate strategy should be, Stop–defer-dilute. Some members were of the view that such regulations are not required as Brokers are already overregulated and compliant. Financing to client does not involve any risk of investor. This is making the Industry unviable. There should be gradation of brokers and all should not be put to face similar regulations despite many being better compliant. Some relief should be available to members with best compliance records. It was also suggested that we should totally oppose it. As a mark of resentment there should be no uploading of data by members, was also opined by a member.
Gradation of members should be there for requirement of imposing regulations. If there is no complaint of client, no such regulation is required to be applied. It was suggested to zero down the difficulties and the proceed towards solution. A senior member pointed out that the main concern of the regulator is that credit balance of creditor is not adjusted against debit balance of debtors. It was also suggested that main issue is misuse of client’s money by Brokers. He suggested that old and new regulations should be analyzed by a Committee and discussed with SEBI. One of another senior member suggested that we should show our unity by means of media and also highlighting our concerns.
Shri Shagun Gupta, Vice –Chairman, extended vote of thanks and the program attended by 150 plus members was concluded with networking on Hi-Tea.
ANMI WIRC organized a Launch Ceremony of Gujarat Chapter at Ahmedabad on 25th May, 2017 at Radisson Blu Hotel. The program saw good participation from the members.
At the outset Mr. Anil Shah, Director, ANMI, welcomed the gathering. He highlighted the activities and representations recently done by ANMI for the benefit of its members and industry, at large.
The event was graced by Mr. Ashish Kumar Chauhan, MD & CEO, BSE. He addressed the gathering on the various new initiatives of the Bombay Stock Exchange including new products being launched by BSE. He also briefed the members on India’s International Exchange and India’s International Clearing Corporation at Gift City. He presented launch of BSE Sovereign Gold Bold Scheme.
Mr. Kamlesh Shah Chairman-elect - ANMI WIRC, then briefed the members about the crucial role played by ANMI in the securities market. He shared the ANMI action plan with members, identifying the following four thrust areas which would require close working with regulator and exchanges.
Mr. Ashish Ajmera, Chairman- ANMI WIRC Launched the Gujarat chapter. He briefed the members on the concessional membership fees levied from Gujarat members. Mr. Vaibhav Shah was elected as the Chapter Convener of the region.
This program provided Gujarat members an opportunity to interact directly with the ANMI officials on various industry issues. Mr. Kamlesh Shah urged members to be more participative on taking up issues pertaining to the stock brokers and overall growth of the capital markets.
The program was followed by Dinner and was supported by Bombay Stock Exchange.
FATCA promotes cross border tax compliance by implementing an international standard for the automatic exchange of information related to US taxpayers. The tax information reporting landscape has changed substantially in recent years and is set to become even more complex in the future.
It is in the above context that ANMI WIRC has organized a Seminar on “FATCA - The Way Forward” on 10th May 2017, at NSE Auditorium, Mumbai. At the outset, Mr. Lalit Mundra, Director, ANMI welcomed the speaker Mr. Kriyang Karia. Ms. Kusum, Secretary, ANMI- WR welcomed the gathering and introduced the speaker.
Mr. Kriyang Karia began his speech by interacting with members and trying to understand their understanding of FATCA. He briefed the audience on the impact of FATCA on reporting by PMS, Depository Participant and Brokers. He presented to the audience the Applicability of FATCA / CRS, Products impacted, Compliance Requirements, Key timelines and the recent updates on CBDT press release. He clarified the difference between FATCA and Common Reporting Standards. He discussed efforts of aligning FATCA/ CRS with other Regulatory regulations.
The idea of having the session was to provide opportunity to members for getting their doubts cleared regarding the regulations. Members actively participated in the session by raising many queries regarding FATCA Reporting, Declaration etc.
The session was appreciated by one and all. Approx 100 peoples attended the event.
Ms. Kusum concluded the session by thanking the speaker and audience for their participation and assured that ANMI WIRC will continue to organize programs of interest and benefit to the members.
ANMI WR conducted a seminar on “Short Term Trading Secrets” on Saturday, 6th May 2017 at the NSE Auditorium, Bandra Kurla Complex, Mumbai.
Mr. Vishal Malkan, Co-founder - Malkansview Training Institute who is a Master Trainer in the area of technical analysis, trading psychology and personal motivation, was the speaker of the session. He has been a trader since the age of 16.
The session began with welcome by Ms. Kusum, Secretary, ANMI-WR. Mr. Kamlesh Shah, Vice Chairman, ANMI-WR in his opening remarks highlighted that several fundamental concepts must be understood and mastered for successful short-term trading. Traders must understand the risks and the rewards associated with each trade. He also thanked NSE for the continuous support to ANMI.
Mr. Vishal Malkan addressed the four rules to be kept in mind while trading i.e. You will never earn money until you learn to hold a winning positions, Managing the risk, Flawless Execution and Cool and calm temperament. He explained short term trading as Day trading (minutes to Hours), Swing Trading (One day to 5 days) and Positioning trading (Weeks to Months). He also elevated the participants with powerful yet simple Short Term Trading Strategies like the Dual Band, Bollinger Bands, Magical bands and Reversal Bar/ Key reversal. He advocated the rule of “Simple your strategy, easy the execution“. He continuously emphasised the need to have a right mindset for trading. He informed the audience about the upcoming event "Anybody Can Trade", organised by Malkansview on the 10th and 11th June 2017 at The Club and encouraged them to participate for the same.
The event was attended by ANMI members along with Sub Brokers, traders, dealers and even fresh graduates. The queries raised by the participants were well responded to by the speaker. The session was appreciated by members and other participants. The program concluded with formal vote of thanks by Mr. Kamlesh Shah.
Inauguration of First "Investor Care & Education Center" at ANMI –ASSOCIATION OF NATIONAL EXCHANGES MEMBERS OF INDIA at New Delhi office was graced by Shri. Arjun Ram Meghwal Hon'ble Union MOS for Finance and Corporate Affairs on Tuesday 2nd May, 2017. He mentioned it as a historical moment when an Industry body opens care center for its customer and investor. This program was attended by Shri. Amit Pradhan Regional Director SEBI, Senior Officials of Stock Exchanges representing NSE & BSE, besides ANMI-NR Chairman, Shri. Narinder Wadhwa and Executive Members.
Shri. Meghwal Ji, discussed many points pertaining to growth of Capital Market and steps to take care of Investor interest and strengthen confidence of investors in Capital Market. He also mentioned matters of NSEL, PSEL, Saradha Chit fund where small investors have lost their money. He emphasized the need of measures for safeguarding the interests of investors with special reference to hybrid security. He appreciated the efforts of ANMI to start mediation Center in solving investors issues and for imparting financial literacy to investors.
Shri. Narinder Wadhwa Chairman emphasized the need of inculcating confidence among investors which is crux of growth of Capital Market. He assured that ANMI will create such center in other four Regions. He further suggested to conduct Short Investment Educational courses and training to Relationship Managers of members, who directly deal with investors, with the help of NISM for the benefit of Investors. This Center will be used as preliminary complaint resolving mediation center.
Shri. Amit Pradhan, Regional Head SEBI while appreciating effort of Shri. Narinder Wadhwa Chairman ANMI-NR for taking this initiative and hoped that this center will help Investors in solving their issues and provide financial literacy to them.
In the backdrop of the Nation gearing up for the roll-out of the country’s largest tax reform, ANMI-WR recently organized a seminar on “Impact of GST on the Stock Broking Industry” in Mumbai. At the outset, Ms. Kusum welcomed the gathering and introduced the speaker. Mr. Kamlesh Shah gave a brief overview about ANMI activities in his opening remarks.
“GST is not merely a tax reform, but it is a fundamental business reform which will change the way business activities are conducted in the country by anyone” said Mr. Shailesh Sheth, Advocate and Founder of SPS LEGAL addressing the audience. He stressed that dual structure of GST is the compulsion of federal character of our country and cannot be avoided.
He said that though the GST design and structure may run short of expectations, it will still mark a significant improvement over the current Indirect Tax Regime.The reduced cascading effect of tax, a borderless common national market for goods and services and elimination of multiple tax windows are the main advantages of the GST. It will also result into a significant expansion of tax base and a check on parallel economy which will have a beneficial multiplier impact on the direct tax collections paving the way for the Government to reduce the Income Tax rates in future.
Mr. Sheth dwelt at length on the concept of ‘supply’ under GST, strict conditions governing the ITC mechanism and the automation driven compliance mechanism of GST. He emphasised that the tax payers will need to have a seamless and robust technology to ensure the compliance on ‘real time basis’ with complete overhauling of frontend and backend IT operations.
Withdrawal of exemption to sub-brokers, doing away with centralised registration, determination of place of supply of service as well as taxable value are few of the major challenges of the GST regime for the stock broking and financial services sectors, he said.
The session was very interactive and was appreciated by one and all. Mr. Shethresponded to all the queries raised by the members present. The session concluded with vote of thanks by Mr. Ashish Ajmera.
ANMI-WIRC participated with ASIFMA (Asia Securities Industry & Financial Markets Association) for the Workshop - KYC and Institutional Investors: Opportunities and Challenges in India, on 28thFebruary 2017 at the NSE premises in Mumbai.
KYC is at the top of the agenda for Indian regulators, policy makers and market practitioners. India has shown leadership in taking steps to make the KYC process more efficient and streamlined by establishing a national KYC system which has five interoperable utilities for FPIs, and now the newly created central KYC records registry (CKYCR).This one-day conference brought together experts from industry and the private sector as well as government and regulatory agencies to examine the various issues around recent regulatory and technological developments on KYC, their impact on institutional clients and financial institutions in India and how KYC and client onboarding in India could further evolve.
This workshop gave the audience the benefit of learning from knowledge and experience of Global policy makers, regulators, industry experts and senior representatives from sell side and buy-side communities. Few distinguished speakers at the event were J. Ravichandran, CEO- Incharge, NSE; Sankarson Banerjee, CTO – Projects, NSE; Mr. Achal Singh, DGM, IMD, SEBI; Vaisshali Babu, Head - Custody Operations, BNP Paribas;Ben Ray, Head of Sales, Europe and Asia, Client Data Solutions, Bloomberg; Cyrus Khambata, MD, CDSL Ventures Limited; Sriram Krishnan, Director, Investor Services, India, Deutsche Bank; Aaryaman Vir Shah, Co-Founder, Elemential; Pierre Lubin, Managing Partner, Fairman Consulting; Suveer Khanna, Partner, Forensic Services and Lead for Financial Services, KPMG; Jyoti Tandon, ED & Head of Compliance – India, CS, Nomura;Alistair Duff, Singapore Country Head; Director, Business Development, S. E. Asia Lab & Research Center, R3;NaofumiSukegawa, Director, Compliance Services, APAC, SWIFT;Dominic Mac, Global Head of Business Development, KYC and Client Onboarding Solutions, Thomson Reuters.
Discussions and deliberations revolved around the following crucial discussion points:
ANMI WR co organized a Talk on Union Budget 2017-18 together with International Vaish Federation and Jain International Trade Organization (Mumbai Zone) on 1st February 2017.The event gave a broad highlight on the Union Budget presented by Finance Minister Shri. ArunJaitley. Mr. Ashish Kumar Chauhan MD & CEO- BSEwas the Chief Guest of the session. The Speakers for the event were Shri Motilal Oswal, Shri S.P.Tulsian and Shri Vimal Punmiya.
The learned speakers shared their views on the Union Budget 2017-2018 mentioning that the Budget was broadly focused on the farming sector, the rural population, the youth, the poor and underprivileged, health care, infrastructure, the financial sector for stronger institutions, speedy accountability, public services, prudent fiscal management and tax administration for the honest. They were optimistic of the Finance Minister’s announcement on the fiscal deficit of 2017-18 which would be pegged at 3.2% of the GDP.The speakers spoke on reformation of the Financial Sector in building trust and Improving Predictability.
The Panel also expressed their thoughts on the series of initiatives mentioned in the Budget that impacted the financial economy as a whole like: Abolishment of Foreign Investment Promotion Board (FIPB), exempting FPI investors (Category I & II) from indirect transfer provision irrespective of the fact whether it is redeemed in India or abroad, lowering of corporate tax rate to 25%, from 30% for MSMEs with an annual turnover up to Rs 500mn, rationalization of personal tax rate etc.
The session was very informative and interactive and received an overwhelming response with more than 300 delegates attending the same. The Hi-tea organised was also very well appreciated.
Curtain raising ceremony of NSE IFSC Limited was organized by NSE in association with ANMI WIRC at Ahmadabad andMumbai on 22nd December 2016 and 26th December 2016respectively.
Thesesessions were conducted to showcase members about the products, membership schemes and technology solutions etcto be offered on NSE International Exchange coming up at IFSC – GIFT City at Gandhinagar, Gujarat.
The sessions were focused on briefing the Members on the modular structure of NSE IFSC Ltd at GIFT. It emphasized on the opportunity to market participants to access global financial markets.
The road show of NSE IFSC at Ahmedabad was attended by Mr.Anil Shah- Director ANMI and Mr. Mukesh Agarwal,CEO-IISL-DotEx along with other officials.
Mr. Kamlesh Shah, Vice–Chairman, ANMI-WRwelcomed the members for the session at Mumbai. A detailed presentation was made by NSEon the said subject. NSE officials thanked the ANMI President –Mr. Swatantra Kumar Rustagi for the support showed during the roadshow which was conducted in Kolkata. Points included in the presentation were the tax benefits, wider products offerings, trading in Benchmark currencies, Trading Hours etc. A subsequent presentation on the Membership structure and its process was made. Members were also updated on the operational functioning of the Exchange.
The sessions were well attended by members. NSE team clarified the doubts of attendees on the technicality and legality of its functioning and invited inputs from the audience for the benefit of the broker community as a whole. The sessions were appreciated by one and all and were followed by dinner.
ANMI-WIRC participated with Indian Chamber of Commerce for the ICC Fintech Summit 2016 held on Saturday, 17th December 2016at Sofitel Hotel,Mumbai.
The Fintech Summit was organized for facilitating conclusive discussions on critical issues prevailing in the Fintech Industry in the presence of industry experts, regulators and other stakeholders. The Conference delved on the latest developments in the Fintech space and the impact of the emerging technologies.
Mr. G. Gopalkrishna, Director, Centre for Advanced Financial Research and Learningwas the Guest of Honour for the event. Other special guest included Mr. Amit Bapna, CFO, Reliance Capital, Mr. S. Ganeshkumar, CGM, Department of Information Technology, Reserve Bank of India, Mr. AsitOberoi, Group President & Global Head – Transaction Banking Group, YES Bank, Mr. MrutyunjayMahapatra, DMD & CIO, SBI, Mr. K. Sanathkumar, Chairman &MD, National Insurance Co. Ltd.
Discussions and deliberations revolved around the following crucial discussion points:
Queries raised by the participants were nicely responded by the speakers. The program was well attended by more than90 people fromMumbai and Kolkata.
A Seminar on "Compliance" was organized jointly by NSE and ANMI-WR on 2nd December 2016.The session was mainly focused on guiding the members on the new regulation on "Enhanced Supervision of Stock Brokers".
Dr. Dinesh Soni, VP, NSEIL welcomed the guests. Mr. Ashish Ajmera, Chairman, ANMI WIRC, welcomed the gathering and appreciated National Stock Exchange for the support provided to ANMI.
Dr. V R Narasimhan, Chief Regulations, NSEIL in his Key Note address updated members on various compliance matters explaining them the essence of the regulations. He also highlighted the major areas of non-compliance by members as observed by the exchange.
Mr.Debashis Bandyopadhyay,DGM, Market Intermediaries Regulation and Supervision Department, SEBI was the Chief Guest of the session. He briefed members on importance of adopting good business practices and adhering to the compliance processes. He also explained members about the expectations of the regulator from the broking industry.
Mr.Bireshwar Chatterjee, Assistant Vice President, NSE,in his presentation on “Enhanced Supervision of Stock Brokers and Compliance Related areas”included discussions on the best practices of Quarterly Settlement, Email ID related practices, Investor Grievance Resolution etc. He also briefed members about the practices that should be avoided. He informed about the new compliance initiatives taken by NSE.
A detailed presentation was made to members on the regulation of “Enhanced Supervision of Stock Brokers” including the various timelines for complying, the principles to be followed, provisions regarding transfer of funds, provisions regarding transfer of securities, provisions regarding pledging of client securitiesetc.
Mr. Nirav Gandhi,Executive Director, J M Financial Services Limited and Mr. Manoj Agarwal, Executive Vice President - Head of Compliance, Kotak Securities Limited shared few Best Practices adopted by their firms relating to compliance.They emphasized on timely disclosures and protecting the interest of investors.
Senior ANMI officials were also present for the seminar. The session was very informative and interactive.Dr. Dinesh Soni and Mr.Bireshwar Chatterjee clarified the doubts of attendees in the open session.
The program concluded with vote of thanks proposed by Dr. Dinesh Soni. The seminar received an overwhelming response with more than 200 people attending the same.The program was followed by dinner.
A seminar on Consultation paper on Amendments to the SEBI (Investment Advisers) Regulation, 2013 was organized by ANMI-WRon Wednesday, 23rd November 2016 at the NSE Auditorium, Mumbai.
At the outset, Ms. Kusum, Secretary, WIRC welcomed the gathering. Mr. Nirav Gandhi, Executive Director, J M Financial Services Ltd. was the speaker for the session. He addressed the audience and appreciated the efforts made by ANMI for organising this crucial seminar which would impact the business of every stock broker.
The seminar was conducted to create awareness and understanding of the Consultation paper on Amendments to theSEBI (Investment Advisers) Regulation, 2013.
Mr.Nirav Gandhi discussed at length the following points in hispresentation:
Diwali Greetings !!!
Some of the glimpses of ANMi-NR members Diwali Milan celebrations on 21st October,2016, at India Habitat Centre New Delhi. The event was enjoyed by all with family members playing games, quiz and winning prizes was all the more exiting. The unforgettable Moments of this gala evening blended with soul consoling light music and exchanging gifts with festive mood left an engraving effect on the minds of 200 plus participants, The honourable guests from Exchanges, SEBI, capital market related Institutions , professionals attended. The sumptuous Dinner and “Dilliki Chaat” was thoroughly enjoyed and praised by all .The Guests were in all praise and senior ANMI members applauded the great efforts of Shri Narinder Wadhwa and team for grandeur of the program.
ANMI WIRC had organized a seminar on “New Business Opportunities – BSE International Exchange IFSC Ltd”on 20th October 2016 at Four Seasons Hotel, Mumbai. The session was conducted to update ANMI members on the benefits of BSE International Exchange coming up at IFSC – GIFT City, Gandhinagar, Gujarat.
At the outset, Ms.Kusum, Secretary, WIRC welcomed the gathering.Mr. Ashish Ajmera, Chairman, ANMI WIRC welcomed the Chief Guests Shri. Ashish Kumar Chauhan and Shri.Balasubramaniam along with otherspeakers and gave a brief overview about ANMI activities in his opening remarks.
Shri. Ashish Chauhan, MD & CEO, BSE Ltd spoke about the advantages of being a member of the BSE International Exchange-IFSC which would provide opportunity to market participants to access global benchmark products in various segments.He also informed the members to make most of this opportunity by actively participating in the first International Exchange in India which is scheduled to be inaugurated on 9th of January 2017.
Shri. V Balasubramaniam, Chief Business Officer, BSE Ltd gave a detailed presentation on the roadmap to become a member of the BSEIX and also explained to members of the various tax advantages.
Two consultants viz. Exemplary Consultants and Moon Consultancygave presentations on the legal framework involved in floating a company at the IFSC. The Hiranandani Developers briefed the members of the availability of the office space. Officials from YES Bank informed members on various aspects of banking at the IFSC.
Over seventy members attended the seminar. The session was very interactive and was appreciated by one and all.The program concluded with vote of thanks by Mr. Anup Gupta.
ANMI-WR conducted four seminars on “Stock Market for Common Man” during the month of September and October 2016. The first session was held in Ahmedabad on 29th September 2016. This session was attended by about 80 people from Ahmedabad. Two sessions were held in Mumbai at Borivali and Churchgate on 4th and 7th of October 2016respectively,which were well attended. ANMI WR also reached to about 70 people in Pune with this program on 5th October 2016.
Mr. Vishal Malkan, Co-founder - Malkansview Training Institute who is a Master Trainer in the area of technical analysis, trading psychology and personal motivation, was the speaker of the session.
The seminars were focused on breaking myths regarding stock market that prevail in the minds of people. The sessions emphasised on making the audience understand the science of stock marketusing technical analytical tools that could be used to participate in the stock markets, avoiding common mistakes a trader does.Mr. Vishal Malkan in his address spoke broadly on the following areas - The RightIndicator to be used for trading, the Role of Systems, how to Manage Risk and The Right Mind-set required for trading. For him the most important of the above was Right Mind-set for trading.
The events were open for clients of members along with Sub Brokers& traders.All the sessions were well attended and appreciated by members and other participants.
ANMI WIRC had organized a seminar on “Impact of GST on Stock Broking Industry”on 26th September 2016 at NSE Auditorium, Mumbai. The session was conducted to update ANMI members on the impact of the proposed GST law onIndian Business.
Since the Indian parliament has passed the long-awaited Goods and Services Tax (GST) bill, preparing the way for the country to move towards a "one nation, one tax" policy; it was time for ANMI members also to understand the Impact of GST on the Stock Broking Industry.
At the outset, Ms. Kusum, Secretary, WIRC welcomed the gathering.Mr. Anup Gupta, Executive Committee member, ANMI WIRC welcomed the speaker and gave a brief overview about ANMI activities in his opening remarks. Mr. Ravi Varanasi from National Stock Exchange of India Ltd also graced the occasion.
The Association was fortunate to have Advocate Shailesh Sheth from SPS Legal,a learnt personality as Speaker who guidedmembers on the implication of the proposed law. As per Mr. Sheth, GST was not a Tax Reform but a Business Reform which would change the way India Inc does business.
He explained to members the Basics of the Model GST Law and also cautioned them of the repercussions of GST if they fail to analyze its impact on their business.
About two hundred people attended the seminar. The session was very interactive and was appreciated by one and all.The program concluded with vote of thanks by Mr. Ankit Ajmera.
WIRC of ANMI conducted its Executive Committee Meeting for the month of August at Adamo-The Bellus, Goa on 20th August 2016. In this outdoor visit, the members were accompanied by their spouses.
The Executive Committee dwelled on various issues relating to progress of ANMI. The members and their families had fun at the side-lines of the meeting and there was great bounding and fellowship between the members.
The Goa meeting which was held at the four star hotel Adamo The Bellus, a beautiful property with excellent services, was hosted by WR Chairman Mr. Ashish Ajmera. The EC appreciated the hospitality of the Chairman and the team at Adamo The Bellus. As a token of appreciation the EC felicitated Mr. Manish Ajmera the Managing Director, Adamo Hospitality Group and Mr. Hanumant Naik, Managing Director, Adamo- the Bellus.
ANMI-WIRC participated with BSE for the program on Sovereign Gold Bond - "Traditional Gold Goes Digital" on 14th July 2016 at Hotel Grand Hometel, Mindspace, Malad West in Mumbai.
The seminar was conducted to create awareness about Sovereign Gold Bond (SGB) and its advantages compared to other instruments linked to Gold. The speaker Mr. Ranjit Singh, AGM, BSE informed the members that first tranche of SGB was already available as a tradeable instrument in BSE Equity Cash segment and from fourth tranche onwards, BSE was also permitted to act as a receiving office for Sovereign Gold Bond scheme.
The program was well attended by around 100 members and was followed by dinner.
On the behest of Commissioner of Income Tax office, Mumbai a session was conducted by ANMI-WR on 12th July 2016 on “Participation in Nation Building - Income Disclosure Scheme 2016”.
The event was held at Norton Hall, BSE, Mumbai. It was aimed at creating and increasing awareness about The Income Declaration Scheme 2016, of Government of India. A delegation of five officers of CIT was present including Pr. CIT Mr. B P Singh himself.
The session began with welcome and felicitation of the Commissioner of Income tax Officials. Shri Ashish Pandey, Asst.CIT, made a presentation on the GoI Income Declaration Scheme 2016.
Pr. CIT Mr. B P Singh informed the audience of the benefits of the IDS, 2016 and explained how ANMI and its members could assist in Nation building by helping eradicate the problem of black money. He emphasized that each member could assist in Nation Building by guiding the investors to declare any undisclosed income as the same would help in economic growth of the country. Mr. B P Singh later answered the queries of members.
The session was attended by about 35 people. The following senior ANMI officials were present for the program – Mr. Ashish Ajmera, Mr. Anup Gupta, Mr. Uttam Bagri, Mr. Kirit Vora, Mr. Kamlesh Shroff.
ANMI-WR conducted a seminar on Compliance jointly with National Stock Exchange of India Ltd at Hyatt Regency, Ahmedabad on Saturday, 9th July 2016.The program was well attended by more than 140 people from Gujarat.
The program began with welcome by Ms. Bhawika Wanchoo , Chief Manager – Ahmedabad Regional Office, NSEIL. Mr. Ashish Ajmera, Chairman, ANMI-WR in his opening remarks briefed the members of recent ANMI activities.
Dr. V R Narasimhan, Chief-Regulations, NSE in his Key Note address updated members on various compliance matters explaining them the essence of the regulations. He also highlighted the major areas of non-compliance as observed by the exchanged. He informed that NSEIL could guide and assist the members wherever they face challenges in understanding the various circulars and regulations. Ms. Bhawika Wanchoo briefed members on Good and Avoidable compliance practices.
Mr. Jay Bhavsar from KIFS Trade and Mr. Shailesh Sinhval from Jhaveri Securities shared few Best Practices adopted by their firms relating to compliance. Ms. Yukti Sharma from NSEIL explained the Enhanced Risk Based Supervision regulation to members. Mr. Nirav Gandhi briefed the members on operational aspects of the proposed Enhanced Risk Based Supervision regulation.
The members’ queries were well addressed by the speakers in the Open session. The program concluded with vote of thanks proposed by Ms. Kusum, Secretary, ANMI-WR. The seminar was appreciated by one and all and was followed by lunch.
Greetings from ANMI EIRC !
ANMI EIRC had organized a workshop on “PMLA” on 09thJuly 2016 at MCC Chamber of Commerce & Industry, Kolkatato help its member understand the latest changes and development in PMLA act and to comply better with rules and regulation issued by the SEBI and Exchanges.
The program focused on:
The Speakers were Mr. Sagar Tanna - A certified Anti Money Laundering specialist
Mr. Tanna made a detailed presentation on the Regulations and Compliance Requirements on PMLA. He used practical examples which kept the session very interesting and lively. He guided how to analyze cases for the purpose of generating or non generating of STR.
Mr. Anup Kr Khandelwal, Chairman ANMI-EIRC gave welcome speech, highlighting reasons for organising this workshop for the members.
Miss. Snigdha Tibrewal, Secretary, ANMI-EIRC presented PP focusing on mandatory and non mandatory alerts provided by the exchange and explained the procedure to handle the same.
Mr. Rakesh Somani, Past President ANMI, briefed the members about the area to be focused with some practical examples which was an eye opener to understand the analysis of STR’s.
This interaction with the members was a great opportunity for all to learn from each other’s best practices and procedures. The session was appreciated by one and all. Approx 84 peoples attended the workshop.
The vote of Thanks was given by Mr. Anil Changoiwala, an executive committee member.
ANMI EIRC for the first time has taken an initiative to issue certificate of Participation to its members.
ANMI-WR conducted two seminars on “Stock Market for Common Man” in Mumbai. One was held at Churchgate on 1st July 2016 and another was held on 4th July 2016 at Borivali. Mr. Vishal Malkan, Co-founder - Malkansview Training Institute who is a Master Trainer in the area of technical analysis, trading psychology and personal motivation, was the speaker of the session.
The seminars were focused on breaking few myths regarding stock market that prevail in the minds of people and making them understand the science of stock market.The session also discussed the use of technical analytical tools that could be used to participate in the stock markets, avoiding common mistakes a trader does etc. Mr. Vishal Malkan in his address spoke broadly on the following areas - The Perfect Indicator to be used for trading, the Role of Systems, how to Manage Risk and The Right Mind-set required for trading. For him the most important of the above was Right Mind-set for trading.
The events were open for clients of members along with Sub Brokers, traders etc.Despite heavy rains, the sessions were well attended and appreciated by members and other participants.
ANMI Next Gen Meet at Hotel Hans, Barakhamba Road, Connaught Place, New Delhi on June 24, 2016 to discuss “Opportunities in Financial Markets for Next Generation”
"Narinder Wadhwa :Chairman on ANMI NextGen Meeting - We created one Regional Committee called ANMI NextGen this year ,the purpose is to make children of ANMI members who are inducted in their Family business of Stock Broking to know each other through ANMI platform and provide them soft skills through ANMI .
We have so far activated 50 members in this committee .thay are all young very intelligent next Generation of our members ,full of energy and active in their businesses .
We recently organised meeting of this group on 24 June at Hotel HANS New Delhi. The title was "Opportunities in financial Markets " for NextGen.
This meeting was exclusively for NextGeneration organised by ANMI NR and was addressed by Mr Ashok Agarwal, Chairman Globe Group , he spoke on the opportunity in financial markets and Mr Rakesh Jain , Past President ANMI and Chairman , Frontline Group.he spoke on Leadership Traits, and his book Leaders and Ladder "
Since there were lot of apprehension and concern amongst the member brokers on the SEBI’S proposed directions on “Enhance Supervision of Brokers” which would put under pressure of proper work and filings upon the member-brokers with no fruitful purpose as the initiation of the direction is motivated by some wrong doing by a few brokers with funds of their clients while NSE’S own statistics most of its member brokers are compliant to the existing rules in this regards.
Very beginning of the Seminar Mr. Saurav Sanyal, an officer of NSE addressed to the members.
Mr. Anup Kumar Khandelwal, Chairman of ANMI-EIRC, delivered welcome speech and introduced the distinguished speakers with the members. Flower bouquets and Memento were presented on behalf of ANMI-EIRC to guests.
The Principal Speaker from SEBI was Mr. Debashis Bandopadhyay, GM-SEBI, who read out the background for the proposed direction and affirmed that the whole framework for implementation is in place.
Dr. V. R. Narasimhan, Chief Regulations, NSE, Mumbai explained that the members can face the new regulations by using technology. He assured full support, help and co-operation from NSE in helping members for difficulties arising in the course of meeting the new “Enhance Supervision of Brokers” requirements. His presentation of statistics comparing data of members over 2 years period 2014-2015 and 2013-2014 vis a vis all India and Eastern Regions impressed the members. The members applauded the fact that members of Eastern Region fared for well in compliance and other parameters compared to other regions / all India.
Dr. Dinesh Kumar Soniji, Head – Inspection & Exchange Compliance, NSE-Mumbai, spoke in detail with power point presentation about existing rules for inspection and supervision of NSE Member-Brokers and the new requirements of “Enhance Supervision of Brokers”. He emphasized that the requirements of Enhanced Supervision are the existing ones.
Mr. Girdhar Kannan, Head – KRO Regulatory, NSE – Kolkata Office made a power point presentation on Inspection of members, how to meet obligations of compliances, Internal audit and Inspection.
Mr. S. K. Rustagi, President of ANMI delivered Key Note address on the theme ofthe4 Seminar emphasising the view point of members that additional rules shall not be thrust upon members for wrong-doing of a handful of members,
Mr. Bijay Murmuria, Past Past President of ANMI and at present Executive Committee Member of ANMI-EIRC and Ms. Aditi Day Nundy, Vice Chairperson of ANMI-EIRC spoke from ANMI side.
Mr. Vinod Kumar Goyal, Director ANMI proposed vote of thanks. He thanked all the speakers, NSE team and the members for making the Seminar a grand success.
132 ANMI-EIRC members, mostly Directors, Partners, Proprietors, Secretaries and Compliance Officers of the member’s Firm attended the seminar and listened aptly to all the speakers. During open floor, members raising questions and queries which were clarified by the speakers. A lunch hosted which was enjoyed by all.
Pune being so near to Mumbai, it is still so far, when it comes to participation in various programs of ANMI-WR. To bridge this distance, ANMI WR organised a Get Together for the Pune Members on the morning of Saturday, 11th June 2016 at Poona Club.
The main agenda was to understand the issues of the members; revisit the compliance challenges and increase participation of the Pune members in ANMI-WR programs.
ANMI WR Chairman Mr. Ashish Ajmera, EC member Mr. Anup Gupta and WR Secretary Ms. Kusum attended the meeting and addressed the members present. Mr. Bireshwar Chatterjee, AVP, NSEIL represented the exchange and briefed members on the initiatives being taken by NSEIL. He also addressed some of the compliance related queries of members. The exchange offered to hold regular seminars at the NSEIL office in Pune to update the members and address their issues on continuous basis.
The meeting was well attended by representatives of 10 members from Pune area of ANMIWR and the same gave everyone an opportunity to meet and unite. ANMI WR thanked Mr. Aashish N Shah of Asian Broking Pvt Ltd and Mr. Manoj S Bajaj of Jade Securities Pvt Ltd for their efforts in arranging this program and making the same successful.
The meeting was followed by lunch.
Financial inclusion is what the country needs today and has been spoken many a times by one and all. In this light, ANMI – WR conducted 5 such seminars for none other than the Mumbai Fire Brigade. Like soldiers who fight to keep our boarders safe, it is these brave firemen who dedicate their lives for the safety of people per se in their area, be it fire, flood or any other calamity.
ANMI thought it upon itself to conduct Investor Awareness Programs for these people who had almost no knowledge of how to take care of their hard earned money and grow it into wealth.
ANMI WR conducted a series of 5 sessions at Goregaon, Dahisar, Mulund, Vikroli and Byculla for the benefit of the brave fireman. The seminars were conducted in their local language and the response was over whelming. The speakers addressed all their queries.
The sessions were appreciated by the firemen who mentioned that it was the first time they were bestowed upon financial knowledge of this kind.
These IAPs were partnered by NSE IPFT and organized by SRE Edupro.
ANMI WR conducted a seminar on “Holistic Approach to Trading” on Tuesday, 7th June 2016 in association with NSE at the NSE Auditorium, Bandra Kurla Complex, Mumbai.
Mr. Vishal Malkan, Co-founder - Malkansview Training Institute who is a Master Trainer in the area of technical analysis, trading psychology and personal motivation, was the speaker of the session. He has been a trader since the age of 16.
The session began with welcome by Ms. Kusum, Secretary, ANMI-WR. Mr. Ashish Ajmera, Chairman, ANMI-WR in his opening remarks highlighted that Trading is an integral part of the stock market and the same has to be done in a systematic and scientific manner.
Mr. Vishal Malkan in his address spoke broadly on the following areas - The Perfect Indicator to be used for trading, the Role of Systems, how to Manage Risk and The Right Mind-set required for trading. For him the most important of the above was Right Mind-set for trading.
The seminar was well attended by over 150 Members, Dealers, Traders, Sub brokers, Authorized Persons and appreciated by one and all. There was a huge demand to hold such seminars more often.
The session was also graced by Mr. Ravi Varanasi, Chief Business Development, NSEIL who appreciated this initiative of ANMI WR. Mr. Ashish Ajmera felicitated Mr. Varanasi with flowers and Mr. Anup Gupta, EC member, thanked him for the continued support to ANMI.
The program concluded with formal vote of thanks by Mr. Akhil Jalan, EC member. Other Senior ANMI officials present were Mr. Hemant Kakkar, Mr. Lalit Mundra, Mr. Ankit Ajmera and Mr. Kamlesh Shroff.
The event was partnered by NSEIL and Malkansview Training Institute.
As the nextreporting under the Foreign Account Tax Compliance Act (FATCA)was coming near (31st May 2016), WIRC of ANMI arranged for a seminar on “FATCA – Implications & Compliance” for its members on 12th May 2016. The Keynote speaker was Mr. Kriyang Karia, Associate Director at BDO India LLP and the session was held at NSE Auditorium in Mumbai.
At the outset, Ms. Kusum, Secretary, ANMI-WR welcomed the gathering. She highlighted that the reporting of FATCA/CRS was alarming to most of the Financial Institutions in India and so was the case with the stock broking firms. It was in this context that the event was organized.
Mr. Ashish Ajmera, Chairman, ANMI WIRC welcomed the speakers and gave a brief overview about ANMI activities in his opening remarks.
Mr. Nirav Gandhi, Executive Director, J M Financial Services Ltd. in his address apprised members about the efforts made by ANMI in the subject matter by continuously engaging with regulators and Tax Consulting companies. Further, he emphasized that only 19 days were left for reporting of Form 61B under FATCA.
Mr. Kriyang Karia began his speech by interacting with members and trying to understand their understanding of FATCA. Then he moved on further, clarifying the doubts of attendees regarding the implications of FATCA and its required compliances. Inter alia the following were discussed.
The session was very enlightening and interactive.It received overwhelming response with over 170 people present for the program. It was appreciated by one and all.
The event also witnessed the special presence of Mr. Ravi Varanasi, Chief- Business Development, NSEIL.The following senior ANMI officials were also present for the program viz Mr. Vijay Singhania, Mr. Lalit Mundra, Mr. Kishor Kansagra, Mr. Anup Gupta, Mr. DP Singh.
The program concluded with vote of thanks by Mr. Anup Gupta. The event was supported by National Stock Exchange (NSE) and M/s TSS Consultancy Pvt ltd.
ANMI- TKK’s one day Cricket Tournament (Tennis ball) 2016 conducted on 8th May 2016 at Pachaiyappa C Grounds – Chennai was a grand success with enthusiastic participation. Eight teams participated and the winning team was M/s Integrated Enterprises India Limited, the Runner up was M/s India Cements Investment Services Limited, Man of the Series - Mr.Naresh of Integrated Enterprises India Limited, the Best Batsman - Mr. Sathish of Integrated Enterprises India Limited and the Best Bowler -Mr. Naresh of Integrated Enterprises India Limited. This Tournament has given an opportunity for closer involvement and establishing a good relationship between the members of ANMI-TKK. The tournament received an overwhelming response and as per request of the participating teams and other ANMI members, ANMI TKK will continue to organize such cricket tournaments every year.
ANMI WIRC had organized a seminar titled “Fulfilling Compliance on Research Analyst & Investment Advisory Regulations – Learning from the Leaders” on 28th April 2016 at Hotel St. Regis, Mumbai to help its members comply better with the SEBI Research Analyst Regulations, 2014 and SEBI Investment Advisory Regulations, 2013.
At the outset, Ms. Kusum, Secretary, WIRC welcomed the gathering. Mr. Ashish Ajmera, Chairman, ANMI WIRC welcomed the speakers and gave a brief overview about ANMI activities in his opening remarks.
The program focused on the procedural part of the regulations i.e. steps to be taken to comply with the above mentioned regulations.
The Speakers from the industry shared the best practices being followed. Ms. Namita Godbole, Compliance Head, Sharekhan Ltd, made a detailed presentation on the Regulations and Compliance Requirements of Investment Advisory Regulations. She clarified various points viz a viz the Registration formalities, Consideration of application and eligibility criteria, Qualification and certification requirement from IA, Maintenance of records by IA etc. for SEBI Investment Advisory Regulations – 2013.
Mr. Manish Kumar Sabu, Compliance Head, J M Financial Services Ltd, in his presentation briefed the members about the practices that need to be followed to ensure compliance with the Research Analyst Regulations. His presentation focused on activities carried out to address the conflict of interest, trading guidelines for research analyst team, maintenance of records, general responsibility, security coverage etc.
This interaction among the members was a great opportunity for all to learn from each other’s best practices and procedures. The session was very interactive and was appreciated by one and all.
The program concluded with vote of thanks by Mr. Anup Gupta. The event was supported by M/s TSS Consultancy Pvt ltd and XtremSoft Technologies Pvt Ltd.