Permanent Account Number as sole identification for securities market transactions strengthens KYC and mandates PAN linked records and verification. PAN is mandated as the sole identification number for all securities market participants and transactions; intermediaries must link client databases and transactions to PAN, collect and verify PAN cards and cross check details online, while exchanges and depositories must enable PAN based querying, amend rules, notify members, and report implementation status to the regulator, effective July 2, 2007.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permanent Account Number as sole identification for securities market transactions strengthens KYC and mandates PAN linked records and verification.
PAN is mandated as the sole identification number for all securities market participants and transactions; intermediaries must link client databases and transactions to PAN, collect and verify PAN cards and cross check details online, while exchanges and depositories must enable PAN based querying, amend rules, notify members, and report implementation status to the regulator, effective July 2, 2007.
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