The National Stock Exchange of India (NSE) on March 23, 2023, issued a Clarification on Nomination for Eligible Trading and Demat Accounts.
The following has been stated namely: -
• Updating the ‘choice of nomination’ without the explicit consent of the investor is against the regulator’s intention and the same has been viewed seriously.
• This requirement emanates from regulatory requirements and hence no fee may be charged for the same.
• Members are hereby requested that ‘choice of nomination’ is required to be updated either by the investors or by obtaining their explicit consent. In any other case, the trading members shall not update the field of ‘choice of nomination’ on their own.
Please refer to the notification for more information
[Notification No. NSE/ISC/56112]
