Are all the investors mandated to comply with PAN requiremen

MS SAMEER (CMA*CA*CMDM*ast FUND MANAGER*LEGAL ADVIS)   (14938 Points)

23 June 2010  

Are all the investors mandated to comply with PAN requirement?

 

Yes. With effect from July 02, 2007, PAN has been made mandatory for all the investors participating in the securities market. In order to strengthen the Know Your Client (KYC) norms and identify every participant in the securities market with their respective PAN to ensure sound audit trail of all the transactions, SEBI has mandated PAN as the sole identification number for all persons transacting in the securities market, irrespective of the amount of transaction.