To All Members,
Mandatory fields in Unique Client Code (UCC) information provided to Exchange.
1. This is in continuation of our Notice No. 20210401-53 dated Apr 01, 2021 and subsequent notice no. 20210416-43 dated April 16, 2021 informing the Trading Members to update the mandatory fields in Unique Client Code (UCC) system of the Exchange for all the existing and new clients by May 31, 2021.
2. Trading Members are required to assign Unique Client Codes (UCC) for all the clients trading on the Exchange platform.
3. In this regard, it has been decided in consultation with SEBI and other Exchanges that the following details of clients shall be made mandatory for new as well as existing clients.
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Sr. No.
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Field Name
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Applicability to Category of Clients
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1.
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Mobile Number
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For Retail clients (other than client type “Institutional Client”), Mobile number has been made mandatory.
For Institutional clients either Telephone Number (Office) or Mobile Number is mandatory.
It may be noted that ‘6666666666’ or “1111100000” shall not be considered as valid mobile number.
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2.
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Email ID.
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Email id has been made mandatory for ALL clients.
In case of email id please note that “notprovided@notprovided.com” or “notprovided@bse.com” shall not be considered as valid email id.
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3.
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Gross Annual Income Range
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Income Range has been made mandatory for Retail clients (other than client type “Institutional Client”).
A. Income Range for Individual clients is as follows:
1 – Below Rs.1 lakh
2 – Between Rs.1 lakh to Rs.5 lakhs
3 – Between Rs.5 lakhs to Rs.10 lakhs
4 – Between Rs.10 lakhs to Rs.25 lakhs
5 – More than Rs.25 lakhs
B. Income range for non-individual client categories is as follows:
1 – Below Rs.1 lakh
2 – Between Rs.1 lakh to Rs.5 lakhs
3 – Between Rs.5 lakhs to Rs.10 lakhs
4 – Between Rs.10 lakhs to Rs.25 lakhs
5 - Between Rs.25 lakhs to Rs.1 crore
6 – More than Rs.1 crore
Further, Zero (“0”) is not allowed for clients other than client category “Statutory Bodies”
For Institutional clients the Income details is not mandatory.
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4.
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Gross Annual Income as on Date
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Date should not be older than last 12 months.
For client “Statutory Bodies”, Date field is not applicable
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4. Further, no trading members are permitted to trade for any client in any segment without uploading of UCC including all mandatory fields as specified above and through our previous circulars with effect from June 1, 2021.
For clarity, details of 6-KYC attributes that are mandatory are as mentioned below:
a) Name
b) Complete Address (including PIN code No. in case of address of India).
c) PAN
d) Valid mobile number
e) Valid email-id
f) Income details/range
5. Further, Trading Members are required to do the following checks:
I. Checks for PAN:
a) The requirement of mandatory submission of PAN by clients for transactions in the securities market shall continue to apply, with permitted exemptions.
b) Members shall verify the PAN online using the Income Tax Database.
c) In case PAN is not seeded with AADHAAR before the date specified by the Government; it will not be considered as a valid PAN.
II. Checks for mobile number and email ID:
a) Members shall ensure that separate mobile number and email address is captured for all UCCs of the Retail clients. However, after submitting a written declaration to Members, they can update common mobile number and email address of its family members. Family for this purpose has been defined as self, spouse, dependent parents and dependent children.
b) In cases where same mobile number / email ID is captured in more than one UCC account and written declaration for the family is not submitted to the Member, Members shall be required to send 30 days’ notice to their clients for submitting mobile number /email ID modification form / request letter for updating the same or family declaration.
c) Members shall ensure that the mobile numbers/ email addresses of members /their employees or their Authorised Persons are not captured as client contact details.
6. Following cannot be considered as valid mobile number:
a) In respect of mobile numbers for India, Mobile number is not of 10 digits.
b) ‘0000000000’ / ‘1234567890’ is captured.
c) Single number is appearing in all 10 digit such as ‘1111111111’, ‘2222222222’, 3333333333, 4444444444, 5555555555, 6666666666, 7777777777, 8888888888, 9999999999.
7. Following cannot be considered as valid email ID:
a) ‘Noemail’ is mentioned in email ID.
b) ’@’ is not mentioned in email ID.
c) If words - 'notprovided' and 'xyz' are mentioned in email id field.
d) Invalid email domain is mentioned. E.g. number digits are mentioned prior to domain name viz. 202Ggmail.com, 1234gmail.com, 1rediffmail.com, 55yahoo.com, etc.
e) There is '.' (dot) at the end of Email ID.
f) There is '.' (dot) after '@' and before domain name.
g) More than one '@' are there in email ID.
8. In view of the above, trading members are required to cross verify the client data for all their existing clients as well for new clients at their end to ensure that all the mandatory and important details such as Name, PAN, Complete Address (including PIN code No. in case of address of India), PIN code, Mobile number, Email ID, Income details / range is updated on the UCC system of the Exchange latest by May 31, 2021.
9. System development related to changes in the batch file upload format is under progress and once the system is ready for the same, it will be communicated to the trading members separately.
10. All trading members are strictly required to ensure that new client details with all mandatory fields are updated and approved in the Unique Client Code system of the Exchange at least one day prior to commencement of trading i.e. by 5 pm on the previous trading day. Trading members shall not trade for such clients until UCC is properly registered.
11. Any trade executed in client codes for new clients without uploading such UCCs in Unique Client Code system of the Exchange will be liable for penal action including disablement of member trading terminals w.e.f. June 1, 2021. For existing UCCs, mandatory fields will have to be updated in the Unique Client Code system of the Exchange after cross verification as advised above before the aforesaid deadline else the member shall be liable for penal action including disablement of trading terminals, unless such UCCs are marked as Inactive, and no trade are executed.
12. Trading Members are requested to ensure strict compliance of the above requirements.
13. In case of any queries, you may please contact at 022-22728435 / 22725785.
For and on behalf of BSE Ltd.
Hiteshkumar Desai Samit Trivedi
Additional General Manager Assistant General Manager
Brokers’ Supervision Trading Operations |