Broker Mistake in my name

Thanks a lot sir. So I don’t have to worry about my details on exchanges because broker will take care of them and if any issues came they have to rectify them? Right?

Ofcourse, as a Zerodha customer, Zerodha will support you if any issues arise. However, re-KYC is not a one-stop solution and depends on the underlying issue. For example, if the issue is related to email/mobile/income details/address update/name change, each will have its own specific process. Zerodha will ensure you are well-informed in advance about the steps you need to follow.

Yes, your job is to ensure your details are correctly updated/declared with the broker. Rest broker will/has to take appropriate measures to update the intermediary records.

For example, if you were involved in insider trading (using non-public information about a company to make trades) or used this account to scam someone by intentionally placing counter orders, or if you are under regulatory scrutiny for unusual financial transactions, you would be required to provide an explanation to the regulator. If you did this intentionally, you would be already aware :slight_smile: Otherwise, you would need access to your account to check what happened on the specific day. If you have already closed the account, you may not have access to the necessary reports and documentation. (Btw, you do receive a contract note via email every time you trade, which should help in the case mentioned above)

Closing your account is a convenience-related decision and doesn’t directly cause issues across your broking accounts due to the closure itself.

1 Like

Thanks Sir.

1 Like

Wow. Such a progressive community we have🥲

1 Like

The broker who did mistake is different whose name I don’t want to share. I just take these names in this post for example only.

Yes. Thanks for the clarification.