Securities and Exchange Board of India (SEBI) has notified the SEBI [Central Database of Market Participants] Regulations 2003 for creation of a central database of Market Participants and Investors and grant of Unique Identification Numbers [MAPIN DATABASE]. The Database was launched on November 25, 2003 by Mr. G. N. Bajpai, Chairman, SEBI.
SEBI intends to achieve the following through these Regulations:
- Develop an inventory of Market Participants and Investors;
- Set up a standard for client code (Unique identification number).
These Regulations place a mandatory obligation on intermediaries and other entities under the jurisdiction of SEBI, listed companies and specified investors to obtain unique identification number under MAPIN database.
Every entity obtaining the unique identification number under the MAPIN database will have one identification number (unique) in the system The unique number is permanent and does not change even if some attributes of the entity change.
SEBI has appointed National Securities Depository Limited (NSDL) for creating and maintaining MAPIN database. The MAPIN database, will provide the following facilities:
- Investors can view basic information of an intermediary and whether the intermediary is facing any disciplinary action.
- An intermediary can verify whether unique identification number given by the investor is correct as per the database.
- SEBI / SROs will be enabled to update regulatory record of the intermediary.
- Brokers and Depository Participants will be enabled to correct the address of investors.
Further details in this regard can be accessed at
http://www.sebi.gov.in/press/2003/2003284.jsp.
