Nomination framework for trading and demat accounts requires prescribed forms, e-sign options, and compliance-linked account restrictions. SEBI introduced a nomination framework for eligible trading and demat accounts, requiring new account holders to either provide nomination or opt out through prescribed forms, with activation of new accounts only on receipt of the specified formats. Existing eligible account holders must indicate their nomination choice by 31 March 2022, failing which trading accounts are to be frozen for trading and demat accounts frozen for debits. The circular also provides for wet signature, thumb impression with witness, and e-Sign execution, and requires intermediaries to maintain systems, safeguard client records, and implement the prescribed changes.
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Provisions expressly mentioned in the judgment/order text.
Nomination framework for trading and demat accounts requires prescribed forms, e-sign options, and compliance-linked account restrictions.
SEBI introduced a nomination framework for eligible trading and demat accounts, requiring new account holders to either provide nomination or opt out through prescribed forms, with activation of new accounts only on receipt of the specified formats. Existing eligible account holders must indicate their nomination choice by 31 March 2022, failing which trading accounts are to be frozen for trading and demat accounts frozen for debits. The circular also provides for wet signature, thumb impression with witness, and e-Sign execution, and requires intermediaries to maintain systems, safeguard client records, and implement the prescribed changes.
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