The Securities and Exchange Board of India (SEBI) on December 27, 2023, extended the timelines for providing ‘choice of nomination’ in eligible Demat accounts and mutual fund folios.
SEBI has received many representations from the market participants, for ease of compliance and investor convenience, it has been decided to extend the last date for submission of ‘choice of nomination’ for Demat accounts and mutual fund folios to June 30, 2024.
It is stated that the Depository Participants, AMCs and RTAs shall encourage the Demat account holders/ mutual fund unit holders to fulfil the requirement for nomination/opting out of nomination by sending a communication on a fortnightly basis by way of emails and SMS to all such Demat account holders/ mutual fund unit holders who are not in compliance with the requirement of nomination.
[Circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2023/193]
