SEBI Mandates Unique Identification Numbers for Market Participants by 2005 to Ensure Compliance and Market Integrity.

The SEBI (Central Database of Market Participants) Regulations, 2003, amended in 2004, require sub-brokers, corporate investors, and those seeking margin trading facilities to obtain Unique Identification Numbers (UIN) by specified deadlines. Sub-brokers must secure UINs for themselves and related persons by December 31, 2004, while corporate investors must do so for their promoters and directors. From January 1, 2005, those without a UIN cannot operate in securities markets. Applications must include biometric data, and false information is penalized. Stock exchanges and mutual funds must update regulations and report compliance to SEBI.

---

---

---