SEBI Revamps Norms for Existing Nomination Facilities in the Indian Securities Market
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- Last Updated on 15 January, 2025
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Circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/ON/2025/01650; Dated: 10.01.2025
SEBI has revised and revamped norms for existing nomination facilities in the Indian Securities Market. The circular covers various aspects of nomination, grouped under two sections—Section A and B—to be complied with by entities collectively referred to as Regulated entities. Section A deals with norms relating to the reiteration of existing norms to ensure a uniform approach across the Securities Market, and Section B deals with revamped norms. The circular shall be effective from 01.03.2025.
Further, investors can nominate up to 10 persons in the account/folio. Power of Attorney (POA) holders of the investor cannot nominate. Also, Regulated entities must have an online mechanism, which will include OTP system, for existing and new investors who want to opt-out of nomination.
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