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of <h1>SEBI Circular Enhances Security for Dematerialized Securities, Prohibits Pre-Signed DIS, and Mandates Investor Education from April 2024.</h1> The circular issued by SEBI addresses investor concerns regarding the unauthorized transfer of securities in dematerialized form. It mandates depositories to enhance investor education on safeguarding Delivery Instruction Slips (DIS) and prohibits Depository Participants (DPs) from accepting pre-signed DIS with blank columns. In case of lost or stolen DIS booklets, immediate written notification is required for cancellation. New DIS booklets are issued only upon proper request, especially for inactive/dormant accounts. Additional safeguards include limits on loose DIS issuance, signature verification, and mandatory verification for inactive accounts. These measures aim to prevent fraud and ensure the security of investor accounts. The circular's provisions take effect from April 1, 2024.
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