Unique client code requirement: brokers must collect PAN or alternate IDs, report quarterly and retain client mappings. Brokers must collect, verify and retain the Permanent Account Number (PAN) for all clients or, where PAN is unavailable, prescribed alternative identity documents; furnish client particulars to stock exchanges/clearing corporations with quarterly updates; maintain and preserve for seven years a mapping of trading-order client IDs to the unique client IDs with KYC particulars; and exchanges must keep confidential client databases, retain historical quarterly submissions for seven years, include confidentiality clauses in member agreements and ensure broker compliance.
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.
Unique client code requirement: brokers must collect PAN or alternate IDs, report quarterly and retain client mappings.
Brokers must collect, verify and retain the Permanent Account Number (PAN) for all clients or, where PAN is unavailable, prescribed alternative identity documents; furnish client particulars to stock exchanges/clearing corporations with quarterly updates; maintain and preserve for seven years a mapping of trading-order client IDs to the unique client IDs with KYC particulars; and exchanges must keep confidential client databases, retain historical quarterly submissions for seven years, include confidentiality clauses in member agreements and ensure broker compliance.
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