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Ch.9 · KYC and Folio Management · medium

Under SEBI regulations, within how many days of the transaction must an account statement be sent to the investor?

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EXPLANATION

SEBI mandates that account statements confirming unit allotment must be sent to investors within 5 business days from the date of allotment. For SIP, a statement is sent within 10 business days of the first instalment.

A.1 business day

B.5 business days from the date of allotment of units [✓ Correct]

C.3 business days

D.10 business days from the date of investment

EXPLANATION

SEBI mandates that account statements confirming unit allotment must be sent to investors within 5 business days from the date of allotment. For SIP, a statement is sent within 10 business days of the first instalment.

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