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SEBI delays rules on freezing MF and demat accounts without nomination
The Business Guardian
|June 11, 2024
The Securities and Ex(SEBI) has announced significant changes to the rules regarding the submission of the 'choice of nomination' for demat accounts and mutual fund folios.
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In a move aimed at easing investment procedures and improving investor convenience, SEBI has decided to do away with the freezing of accounts and folios for existing investors who have not submitted their nomination details.
SEBI has issued a new circular that extends the deadline for existing investors to submit their 'choice of nomination' for demat accounts and mutual fund folios to June 30, 2024.
This extension ensures that demat accounts and mutual fund folios will not be frozen for debits due to non-submission of nomination details. This decision is aimed at preventing any disruption to investors' access to their funds and securities.
This story is from the June 11, 2024 edition of The Business Guardian.
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