Where ever the penalty levied by the Clearing Corporation on the member for short reporting of client margin is attributable to failure on the part of the client to pay margins as required, member may pass on the actual penalty to the client, provided he has evidences to demonstrate that the client has not made payment of the margins as required. Wherever penalty for short reporting of margin is being passed on to the client relevant supporting documents for the same should be provided to the client.
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KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.