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SEBI - Highlights / Catch Notes

Home Highlights May 2024 Year 2024 This

The circular exempts jointly held Mutual Fund folios from the ...


New SEBI Circular Exempts Joint Mutual Fund Folios from Nomination; Individual Holders Must Nominate by June 30, 2024.

May 22, 2024

Circulars     SEBI

The circular exempts jointly held Mutual Fund folios from the requirement of nomination, as per Clause 17.16 of the Master Circular. Failure to nominate by June 30, 2024, for individual unit holders would freeze folios for debits. The decision aims to simplify compliance and reduce costs. Other nomination provisions remain unchanged. Issued u/s 11(1) of SEBI Act, 1992, and Regulations 29A and 77 of SEBI (Mutual Funds) Regulations, 1996, to protect investor interests and regulate the securities market. Circular available on SEBI website. Signed by Peter Mardi, Deputy General Manager, Investment Management Department.

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