Ease of doing investments - Modified Norms for Nomination in Demat Accounts and Mutual Fund Folios

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....ts and mutual fund folios, with effect from March 01, 2025, in order to enhance the ease of investor on-boarding and the nomination process with the objective of preventing the generation of unclaimed assets. 2. SEBI had received representations from stakeholders raising certain operational challenges in implementation of the aforesaid circular. 3. Accordingly, after considering these representations and the feedback in the public consultation, it has been decided to modify the norms for nomination in demat accounts and mutual fund folios to enhance the ease of investor on-boarding and ease the nomination process as under: Modified Norms on Nomination to be implemented by regulated entities for Demat Accounts and Mutual Fund Folios....

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....t to the registered mobile number and email address of the investor. For physical / offline nomination- The nomination form shall be signed under wet signature of the account / folio holder and signature of witness shall not be required. However, if the account / folio holder affixes his / her thumb impression (instead of wet signature), then the same shall be witnessed by two persons and details of such witnesses (name and address) shall be duly captured in the nomination form. 7. Information to be captured in nomination form: a. Mandatory information: Name of nominee and the nature of relationship of the nominee with the investor. Date of birth is mandatory, in case the nominee is a minor. b. Optiona....

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....ation / subsequent change. 10. Obligations of the regulated entities: 10.1. In the periodic statement of account / holding statement furnished to the investor, the regulated entity shall print, either; a) name(s) of the nominee(s) or b) Yes / No - whether or not nomination has been made by the investor as per the choice exercised by investor in the nomination form. 10.2. For existing and newly opened accounts / folios, without nomination (including opt-outs), the Depository Participants/ Mutual Fund RTAs shall: a. Send bi-annual messages to such investors by way of emails and SMS, nudging and guiding them to provide nomination b. Cause to display of pop-up message on the benefits of nomi....

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..../P/CIR/2023/181 dated November 17, 2023 i. SEBI/ HO/IMD/IMD-IPOD1/P/CIR/2023/160 dated September 27, 2023 j. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/158 dated September 26, 2023 k. SEBI/ HO/IMD/IMD-IPOD1/P/CIR/2023/47 dated March 28, 2023 l. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/42 dated March 27, 2023 m. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023 n. SEBI/ HO/IMD/IMD-IDOF1/P/CIR/2022/105 dated July 29, 2022 o. SEBI/HO/IMD/IMD-IIDOF3/P/CIR/2022/82 dated June 15, 2022 p. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/23 dated February 24, 2022 q. SEBI/HO/MIRSD/RTAMB/CIR/P/2021/601 dated July 23, 2021 r. MFD/CIR/07/213/2002 dated July 02, 2002 16. ....

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....t Nominee 2nd Nominee 3rd Nominee a) % Share of nominee**  (equal share if % is not specified)       b) Mobile of nominee*** (Please note that the DP / MF RTA will be able to reach out to your nominee if you provide the contact details)       c) Email ID of nominee*** (Please note that the DP / MF RTA will be able to reach out to your nominee if you provide the contact details)       d) Specify Personal identifier document • Aadhaar (last four digit), PAN, Driving Licence, P....

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..... • Investors can change nomination any number of times. • Investor have the right to receive acknowledgement of the nomination form for each instance of nomination / subsequent change.   Annexure-B Declaration for Opting-out of Nomination I hereby confirm that I do not wish to appoint any nominee(s) to my demat account/mutual fund folio at this point of time. I understand that - (i) the nomination helps to quickly identify the person for transfer of securities and helps in faster and smoother transmission of my securities to my legal heir(s) after my demise. (ii) in the absence of a nomination, my legal heir(s) may require the submission of certain additional legal or court-is....