Sebi Extends Deadline for Feedback on Unclaimed Funds Guidelines

Sebi has extended the deadline to March 31, 2025, for public feedback on guidelines for unclaimed funds and securities with brokers. Originally set for March 4, the extension allows more time for input on handling unclaimed funds and securities deemed unreachable or uncredited.

The Securities and Exchange Board of India (Sebi) has announced a deadline extension until the end of March 2025 for the public to provide feedback on proposed guidelines concerning unclaimed funds and securities held by brokers.

Initially, the deadline was March 4, 2025, but Sebi decided to extend it, giving the public more time to comment on these important regulatory proposals.

The consultation paper by Sebi outlines procedures for circumstances where funds or securities can't be credited to a client's account or when clients cannot be reached. Such situations lead to the classification of these holdings as 'unclaimed'. Efforts must be made to locate clients or related parties without disclosing sensitive financial details.