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of <h1>SEBI Mandates No Charges for Full Securities Transfer Between Identical Accounts from Jan 9, 2006, to Aid Investors.</h1> The circular from the Securities and Exchange Board of India (SEBI) addresses the review of dematerialization charges. It mandates that, effective January 9, 2006, no charges should be levied by depositories or depository participants (DPs) when a Beneficiary Owner (BO) transfers all securities to another DP, provided the accounts are identical. This decision aims to reduce costs for investors dissatisfied with their current DP services. Depositories and DPs are instructed to update systems to differentiate between account closure and normal transactions and to amend relevant rules. SEBI issued this circular to protect investor interests and promote market development.
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