To ensure compliance with anti-money laundering rules, BSE today asked its brokers to submit details about preparedness for furnishing Aadhaar details of their clients by month-end. This follows the government's amending in June the Prevention of Money Laundering (Maintenance of Records) Rules with regard to the collection of Aadhaar number from clients.

In a circular, BSE has asked its stock brokers to submit a report with details about their preparedness, number of active clients and the number of clients who have complied with submitting Aadhar numbers. "Members are requested to submit/update the details by October 31, 2017," BSE (formerly known as Bombay Stock Exchange) said. 6 Best Investing Tips To Do In Your 30s

"The number of clients complied to be mentioned should be the cumulative number of clients who have complied with submitting Aadhaar numbers," it added. In the case of companies, a manager, officer or employees holding "attorneys to transact" on a company's behalf have to submit their Aadhaar details. With regard to partnership firm, trust and unincorporated association or body of individuals, the person holding attorney to transact on the entity's behalf has to provide Aadhaar details to the exchange.

Also, BSE said that it is required to report to the markets regulator Sebi on the preparedness of the trading members with respect to compliance with the amended rules. In compliance with the amended PML norms, banks have already sought Aadhaar details from their customers. Last month, Sebi had asked stock exchanges to submit a monthly progress report on collection of Aadhaar numbers by its members. "...the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 has been amended as per the gazette notification dated June 1, 2017, inter alia, to provide for submission of Aadhaar number, where the client enters into an account based relationship with reporting entity," BSE had said. 6 Biggest Mistakes Stock Market Investors Makes

As per the amended PML rules, where the client has not submitted Aadhaar number at the time of commencement of an account-based relationship with the reporting entity, then the same should be furnished within six months. The period would be calculated from the date of starting the account-based relationship. For clients having an account-based relationship with reporting entities prior to June 1, Aadhaar details have to be submitted by December 31, 2017.

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