Ease of Doing Investments – Modified Norms for Nomination in Demat Accounts and Mutual Fund Folios

SEBI has simplified the nomination framework for Demat Accounts and Mutual Fund Folios to make investing easier and help reduce unclaimed assets. As per the revised norms, nomination will be mandatory for new single-holder accounts/folios unless the investor expressly opts out, while it will remain optional for jointly held accounts. Investors can nominate up to three nominees and submit or modify nominations through both online and offline modes. SEBI has also simplified documentation requirements and removed the witness requirement for physical nomination forms (except in specified cases). These changes aim to enhance investor convenience and streamline the nomination process