Aadhaar number updation compulsory for Stock Exchange trading

MUMBAI: Trying to ensure compliance with anti-money laundering rules, the Bombay Stock Exchange (BSE) Indian equities exchange asked its brokers to state and update their preparedness, mention the number of active clients and mention the number of clients who have submitted their Aadhaar numbers.

For partnership firms, trusts and unincorporated associations or a body of individuals, the person holding power of attorney to transact on the firm's behalf needs to furnish the 12-digit identification number.

In a circular the stock exchange said: "Members are hereby requested to note that, the number of clients complied to be mentioned should be the cumulative number of clients who have complied with submitting Aadhaar numbers with respect to the client categories covered in the Amendment to PML (Maintenance of Records) Rules, 2005."

The circular said in the case of an individual one has to furnish his/her Aadhaar details. In the case of a company, "managers, officers or employees holding attorney to transact on company's behalf" need to submit Aadhaar details.

 

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