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of <h1>SEBI Requires PAN for All Securities Market Transactions; Non-compliant Accounts to Face Credit Suspensions from August 16, 2010.</h1> The Securities and Exchange Board of India (SEBI) mandates that all transactions in the securities market require a Permanent Account Number (PAN). Accounts lacking verified PAN details are currently 'suspended for debit.' From August 16, 2010, such accounts will also be 'suspended for credit,' except for automatic corporate actions. Other credits, including those from IPOs, rights issues, and secondary market transactions, will not be permitted. Depositories must amend their regulations, inform Depository Participants (DPs), and ensure Beneficial Owners (BOs) are aware of these changes. This circular is issued under the Securities and Exchange Board of India Act, 1992, and the Depositories Act, 1996.
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