SEBI Proposes Major Changes for Demat, Mutual Fund Nominations

• SEBI aims to simplify nomination process due to existing operational challenges and incomplete investor information.
• Nomination to become default option for new Demat accounts and mutual fund folios; investors can explicitly opt-out.
• Proposed changes will ease investment claims for families after an investor's death, reducing lengthy legal processes.
• Nominee information simplified: only name and relationship with investor will be mandatory.
• Investors can designate up to four nominees per account, allowing distribution of investments among multiple family members.