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Capital market regulator SEBI has extended the deadline for nomination in demat accounts and submission of investor proof for physical security holdings to the end of this year, from October.
Earlier, SEBI mandated that trading and demat accounts that do not have ‘choice of nomination’ by September 30 shall be frozen.
However, based on the representations received from the exchanges, depositories, brokers’ associations, and various other stakeholders, SEBI said submission of ‘choice of nomination’ for trading accounts has been made voluntary as a step towards ease of doing business.
With respect to demat accounts, it has been decided to extend the last date for submission of ‘choice of nomination’ to December 31, it said.
In March, SEBI had stipulated that physical securities holdings will be frozen if PAN, nomination, contact details, bank account details, and specimen signatures are not submitted by the holders by September 30.
Based on the representations received from investors, the Registrars Association of India, and various other stakeholders, it has been decided to extend the last date for the submission of documents to December-end, it said.
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