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The Securities and Exchange Board of India (SEBI) has introduced a centralised procedure for reporting and verification in the event of an investor's death, therefore smoothing the process of transmission in the securities market to legal heirs
This is expected to smoothen the transmission process in the securities market
The KRA, on receipt of the information, should also perform an independent validation of the information whenever feasible and alert other linked intermediaries about the update.
The Sebi Tuesday announced a centralised mechanism for reporting and verification through KYC Registration Agency in case of the demise of an investor in order to smoothen the transmission process in securities market, effective from January 1, 2024