DEPUTY GENERAL MANAGER
MARKET REGULATION DEPARTMENT
MRD/DOP/MAPIN/Cir – 40/2004
November 18, 2004
The Executive Directors/Managing Director/Administrators of All Stock Exchanges
Sub: SEBI (Central Database of Market Participants) Regulations, 2003
Please refer to SEBI Cir No. MRD/DOP/MAPIN/Cir –26 /2004 dated August 16, 2004 on the captioned subject which laid down the operational modalities for the registration of sub-brokers under the SEBI (Central Database of Market Participants) Regulations, 2003.
Accordingly, sub-brokers within the meaning of rule 2(f) of the SEBI (Stock-Brokers and Sub-brokers) Rules, 1992 as ‘specified Intermediaries’, who along with their related persons are required to obtain Unique Identification Numbers (UIN) on or before December 31, 2004.
As per the provisions of sub-regulation (1) of regulation (4) of the captioned regulations, no sub-broker being a specified intermediary shall act as such, if the UIN has not been obtained for itself and its related persons by December 31, 2004. Any contravention would invite penal action as specified in Regulation 19 of the captioned Regulations.
The stock exchanges are, therefore, advised to take necessary steps to ensure that all sub-brokers attached to the respective exchanges have obtained the UIN on or before December 31, 2004.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
V S SUNDARESAN