The Hindu Business Line : CSE drive to familiarise with unique ID numbers

THE Calcutta Stock Exchange (CSE) has sought to familiarise its members with the market regulator's proposals on unique identification numbers. This is the first attempt of its kind by CSE.

The exchange has referred to a note issued by SEBI directing it to update local brokers on the matter. CSE has further urged them to comply with the regulatory requirements.

SEBI, which had recently tried to increase the level of awareness on unique identification numbers, has specified from time to time the categories of individuals and entities that are required to obtain a unique number under the Central Database of Market Participants (MAPIN) Regulations, 2003.

It has been further clarified that such a number has to be obtained only once by an individual or entity irrespective of any change in the official position held by that individual.

A unique identity once issued to a person will be permanent under certain circumstances that have been clearly explained.

In the case of an individual, these circumstances may arise on the following grounds:

On change of employment by him or her as an employee of a new organisation.

As employee of one organisation and a director of another organisation.

As employee/director of one organisation and the relative of an employee/director of another organisation

As director of an organisation.

As director of two different organisations.

As an individual and as a client undertaking margin trading activities.

Loss of original MAPIN or non-receipt of MAPIN card after submitting the application form.

The exchange has reiterated that an individual is required to obtain only one number, which can be linked to other intermediaries or organisations. An entity needs to obtain such a number only once although it may be registered with SEBI in various capacities.

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