SEBI Update: Safeguards to address the concerns of the investors on transfer of securities in dematerialized mode

Please find the following update under SEBI:

SEBI prescribed guidelines  to address the concerns arising out of transfer of securities from the Beneficial Owner (BO) Accounts without proper authorization by the concerned investor in Para 1.12 of SEBI Master circular for Depositories dated October 06, 2023 and the same Para is modified to harmonize the classification of inactive/dormant accounts across Stock Exchanges & Depositories and to strengthen the measures to prevent fraud/ misappropriation for inoperative demat accounts.

The provisions of this circular shall come into effect from April 1, 2024.

Link of the Circular:

https://www.sebi.gov.in/legal/circulars/mar-2024/safeguards-to-address-the-concerns-of-the-investors-on-transfer-of-securities-in-dematerialized-mode_82417.html