INVESTMENT MANAGEMENT DEPARTMENT
SEBI/IMD/CIR No. 01/1756/04
January 27, 2004
All Mutual Funds registered with SEBI
Association of Mutual Funds in India (AMFI)
Sub: Unique Client Code for Schemes/Plans of Mutual Funds
SEBI vide circular No. SEBI/SMD/SE/11/2003/31/03 dated March 31, 2003 had stipulated that the stock exchanges would generate a Unique Client Code (UCC). It has further been decided that certain intermediaries including Mutual Funds would be permitted to operate in the securities market only upon quoting the UCC with effect from a date to be announced separately.
In view of the above, it is advised that:
Mutual Funds should approach BSE (Mr. Kevin Desouza) or NSE (Mr. Uday Mallya) latest by February 4, 2004 to obtain a unique client code for each of their existing schemes and plans (the later wherever the portfolio of the plans is different).
The compliance of the aforesaid requirement should be reported to SEBI by a letter as well as by an e-mail at email@example.com and firstname.lastname@example.org latest by February 6, 2004.
Whenever a new scheme(s) / plan(s) (wherever the portfolio of the plans is different) is launched after the issue of this circular, the concerned Mutual Fund shall obtain the UCC from BSE or NSE before commencing the trading on behalf of the scheme(s)/plan(s).
It is of utmost importance that the secrecy of the UCC is maintained by the mutual funds and the same should be furnished only to the member broker through whom the mutual funds are trading.
The above clarification is being issued in accordance with Regulation 77 of the SEBI (Mutual Funds) Regulations, 1996.