The Association of Mutual Funds in India (AMFI) on January 01, 2024, issued the Common Standard Operating Procedure for implementation of SEBI circular on a Centralized mechanism for reporting the demise of an investor through KRAs
The following has been stated namely: -
• The purpose of this is to have uniform standard procedures for operationalizing the above-referred circular across all securities market stakeholders.
• This SOP has been finalized in consultation with Stock Exchanges, Depositories, industry associations like the Association of Mutual Funds in India (AMFI), Registrars Association of India (RAIN), MF registrars, KRAs, Association of Registered Investment Advisers [ARIA], Broker’s association, etc.
• It states that the SOP shall be made available on the respective websites of Stock Exchanges, Depositories, Industry Association as well as that of the intermediaries.
• The following documents shall be submitted namely: -
(i) Notifier’s PAN.
(ii) Form for registration of death/letter duly signed by the notifier having his name, contact details, and address along with the deceased person's Death Certificate (in original) or self-attested.
The detailed SOP has been attached to the document.
