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SEBI to suspend UIN registrations
Special Correspondent
MUMBAI:
The Securities and Exchange Board of India (SEBI) on Tuesday decided that all fresh registrations for Unique Identification Number (UIN) under the existing Central Database of Securities Market Participants' and Investors' Identification Numbers (MAPIN) Regulations would stand suspended with effect from July 1.
SEBI also formulated a new report on MAPIN. The SEBI Committee re-examined issues relating to MAPIN and concluded that "the present system should not be continued.''
The existing MAPIN database and system will be integrated into the new system. To maintain consistency, the number generation logic and format series will be the same as in the existing MAPIN database.
The committee has suggested a phased implementation of the project.
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