SEBI Extends Mutual Fund Nomination Deadline to June 2024

SEBI Extends Mutual Fund Nomination Deadline to June 2024

VoM News Desk | December 27, 2023 | 11:45 PM IST | Breaking News | Follow on Google News

SEBI Extends Mutual Fund Nomination Deadline to June 2024/SEBI

SEBI Extends Mutual Fund Nomination Deadline to June 2024

The Securities and Exchange Board of India (SEBI) has responded to market participants’ appeals by extending the deadline for mutual fund investors to submit their portfolio nominations until June 30, 2024.

This decision aims to enhance compliance ease and offer more convenience to investors, preventing potential issues such as the freezing of Mutual Fund (MF) folios or demat accounts due to incomplete nomination processes.

Investor Protection
SEBI’s move intends to safeguard investors’ assets and facilitate a seamless transition of these assets to their legal heirs. According to registrar and transfer agent (RTA) CAMS, as of September 2023, approximately 25 lakh PAN holders had not updated their nominations in their MF folios.

The extension of the deadline from January 01, 2024, to June 30, 2024, grants these investors an additional six months to fulfill the necessary requirements, ensuring their investments are adequately protected.

VoM News Desk

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