labels: jm mutual fund, sebi
JMF MF, depositories to facilitate SEBI''s MAPIN registrations across the countrynews
Mumbai:
13 January 2005
From March 31, 2005, individual investors, investing over Rs100,000 at a time will be required to provide 'unique identification number' (UIN) as per Securities and Exchange Board of India (SEBI) guidelines.

The UIN would facilitate the introduction of its proposed 'market participants and investor database' (MAPIN) in an attempt to introduce investor identification. For corporates, institutional investors and mutual funds, a MAPIN number has already been made mandatory for investing in securities including mutual funds since December 31, 2004.

The MAPIN scheme envisages each investor acquiring a UIN based on the biometric system — that is a mix of physical and biological attributes of the individual. This includes fingerprints along with the photographs of the person. Fingerprints will be live scanned, photograph captured and signatures scanned, as part of the application process.

A step towards investor protection, a MAPIN will be mandatory where the minimum stipulated amount of cash transactions of securities is Rs1 lakh and for day traders, if the value of a one-time trade exceeds Rs1 lakh. Eventually, in addition to corporates, mutual funds and institutional investors, even individual retail investors will need their own individual MAPIN.

This is an initiative by SEBI to track and prevent undesirable transactions in the securities markets, thus improving safety for genuine investors. To educate and assist investors in acquiring the UIN, JM Financial Mutual Fund (JMF MF) has organised a number of road shows in association with authorised depositary participants, in prominent investor locations.

These road shows, called MAPIN Mela will be held in
Mumbai: January 22, 23, 29 and February 5,
Delhi: January 17,
Kolkata: January 22,
Chennai: January 22, 23, 28 and 29,
Bangalore: January 22, 23, 29 and 30,
Hyderabad: January 21 and 22,
Coimbatore: January 21 and 22,
Pune: January 29 and 30,
Surat: February 4 and 5,
Baroda: January 20 and 29

JMF MF will set up camp offices at various locations in all these target cities to educate investors in understanding the procedures and logistics required to obtain the UIN and also to facilitate the actual registration process. Investors will be required to carry a demand draft of Rs300 as registration fee and fill a registration form to obtain the UIN.


 

 search domain-b
  go
 
JMF MF, depositories to facilitate SEBI''s MAPIN registrations across the country