SEBI has tweaked provisions related to Unique Client Code (UCC) and mandatory requirement of Permanent Account Number (PAN). As per the circular, it would be mandatory for the members of the exchanges, having commodity derivatives segment, to use UCC for all clients transacting on the commodity derivative segment and the execution of such transactions would not be permissible without uploading the UCC details by the members of the exchange. Therefore for this purpose, members shall have multiple copies of the Permanent Account Number in their back office but in the case of e-PAN, members shall verify the authenticity of e-PAN with the details on the website of the IT Department.

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