SEBI Extends Timeline for Nomination of Mutual Fund Unitholders by 3 Months
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- Last Updated on 29 September, 2023
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Circular No. SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/160; Dated: 27.09.2023
SEBI has extended the timeline for nomination of mutual fund unit holders either solely or jointly from 30.09.2023 to 31.12.2023. Further, non-compliance of it will result in freezing of folios w.e.f 01.01.2024.
Further, in order to protect the interest of investors and regulate the securities market, AMCs and RTAs must encourage the unit holder(s) 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 unit holder(s).
Also, the communication must provide guidance by which the unitholders can provide nomination or opt out of nomination.
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