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You will have to close your current demat and transfer all your stocks to new broker approved by MS. Hdfc securities is one I know.
You will be allowed to trade.. but depending on your team/work there may or may not be more restrictions on stocks that you can buy/sell.
Also you won't be able to participate in any IPO.
In any case your trading will be restricted and monitored after you join MS.
HDFC has two entities - HDFC Sky and HDFC Securities - are they ok with both ?
Yes u cant trade after joining ms
What actually happen , whats the process i have demat account in zerodha. Will there be any bond or written communication which says I can't invest in the stock market.
You'll need to close your zerodha account and if you still want to trade then you'll need to open a new demate acc in either hdfc or kotak securities (both are MS approved broker).
Also once your account is opened, you would need to provide acknowledgement to your broker and authorize morgan Stanley's compliance team to regularly scrutinize trades/holdings in your demate acc without your permission. That way they'll be able to track your holdings and check for any suspicion.
Additionally there are few more conditions that'll apply to you depending on which team you join.
Hope that helps!
Its common procedure in any investment bank.. it's as simple as, you should trade with only one bank accepted by MS which is hdfc sec. You can transfer all the funds or investments from your previous to current account.