Regulatory Alerts2025-01-10
Circular on Revise and Revamp Nomination Facilities in the Indian Securities Market
The Securities and Exchange Board of India (SEBI) issued this circular to revise and revamp nomination norms for demat accounts and mutual fund folios to prevent unclaimed assets. The regulations mandate specific personal identifiers for nominees, allow up to ten nominees per account, and introduce simplified transmission procedures that eliminate the need for affidavits or indemnities. Additionally, the document establishes protocols for incapacitated investors, requiring regulated entities to verify capacity and obtain impressions in the presence of witnesses before allowing nominee operations.
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