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of <h1>Regulatory Authority Updates Nomination Rules for Demat Accounts and Mutual Funds Including Transmission and Nominee Rights</h1> The regulatory authority issued amendments and clarifications to its January 10, 2025 circular revising nomination norms for demat accounts and mutual fund folios. Key clarifications include transmission of assets upon joint holder death to surviving holders with an option to transfer assets to other accounts, allowing single account holders to opt out of nomination online or offline, and empowering nominees to operate accounts if the investor is physically incapacitated but contractually capable. KYC requirements for transmission by name deletion are relaxed unless previously requested but not provided. Amendments address odd lot asset distribution to the first nominee, inclusion of passport numbers for certain investors, and modifications to the nomination form including witness signatures and operational rights of nominees. Implementation is phased with certain provisions deferred to June and September 2025. Reporting requirements for readiness and compliance by intermediaries are mandated. The circular is issued under statutory powers to protect investor interests and regulate the securities market.
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