Regulatory Alerts2025-02-28
Amendments and clarifications to Circular dated January 10, 2025 on Revise and Revamp Nomination Facilities in the Indian Securities Market
The Securities and Exchange Board of India (SEBI) issued clarifications and amendments to its January 10, 2025 circular governing nomination facilities for demat accounts and mutual fund folios. Key changes include exempting surviving joint holders from KYC requirements during transmission by name deletion, allowing investors to opt out of nomination via online or offline modes, and modifying the nomination form to accept passport numbers for NRIs. Additionally, SEBI deferred the implementation of specific provisions into three phases, with full compliance required by November 1, 2025.
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