Sebi to revamp MF nomination

New Delhi: Markets regulator Sebi on Friday issued guidelines to revamp the nomination process for mutual fund folios and demat accounts to enhance transparency and minimise unclaimed assets in the securities market.

The new norms will come into effect from March 1 and cover a range of measures for investors and regulated entities, including asset management companies (AMCs).

Sebi) emphasised that these reforms came from extensive consultations with stakeholders, including a public consultation paper floated in Feb 2024.