SEBI vide circular dated March 31, 2022 has provided for discontinuation of usage of pool accounts for transactions in the units of Mutual Funds. In the interest of the investors, it has been decided to extend the date of applicability of “Circulars” providing for usage of pool accounts for transactions in the units of Mutual Funds, redemption, source account verification and Two Factor Authentication to July 01, 2022.
The AMCs, recognised Stock Exchanges, Depositories, recognised Clearing Corporations and Registrar to an Issue and Share Transfer Agents shall take necessary steps for implementing the “Circulars” (along with the clauses relating to 2FA for redemption and source account verification) including the required processes and systems to ensure
compliance with the provisions of the “Circulars”.
