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of <h1>SEBI exempts jointly held mutual fund folios from mandatory nomination requirement as per Master Circular of May 2023.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular exempting jointly held mutual fund folios from the mandatory nomination requirement outlined in the Master Circular dated May 19, 2023. This decision follows recommendations from a working group aimed at simplifying compliance and reducing costs. While the nomination requirement is now optional for jointly held folios, all other provisions regarding nominations remain unchanged. This circular is issued under the authority of the SEBI Act, 1992, to protect investors and regulate the securities market.
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