SEBI has extended the timeline for nomination of mutual fund holders

SEBI vide circular dated September 27, 2023 has directed all Asset Management Companies and Registrars to an Issue and Share Transfer Agents(‘RTAs’) to encourage the unit holder(s)to fulfil the requirement for nomination/opting out of nomination by sending a communication on fortnightly basis by way of emails and SMS to all such unit holder(s)who are not in compliance with the requirement of nomination. The communication shall provide guidance by which the unit holder(s)can provide nomination or opt out of nomination.

Upon failure to provide or opt out of nomination, the folios of unit holders shall be frozen with effect from January 01, 2024 instead of September 30, 2023.