Transmission of units on death of MF investors to get smoother: SEBI
Transmission of physical shares to the investors or joint holders will get smoother. SEBI has introduced a centralized mechanism that will eliminate the need to intimate multiple RTAs/DPs about the death of shareholders. In This circular, SEBI has asked market intermediaries including mutual fund companies, RTAs, and KRAs to facilitate online and offline processes to verify the death certificate. The market regulator said that the death certificate should be verified by the next working day. Also, such a request has to accompany the PAN of the deceased investor.
Read the complete Circular at sebi.gov.in
Click here to Download Circular.
Date Published – 04 October 2023