Markets regulator SEBI on Thursday deferred the implementation of the third phase of its nomination framework for the securities market, which was earlier scheduled to take effect on December 15.

The new implementation date will be announced later, the Securities and Exchange Board of India (SEBI) said in its circular.

The deferment comes in response to operational challenges faced by depositories and other stakeholders.

In January, SEBI issued guidelines to revamp the nomination process for mutual fund folios and demat accounts to enhance transparency and minimise unclaimed assets in the securities market.

Following representations from various industry bodies, the regulator decided to adopt a phased implementation approach through a subsequent circular in February 2025.

However, dep

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