New Delhi, July 18 -- Securities and Exchange Board of India (SEBI) has introduced an investor-friendly measure by simplifying the mutual fund transmission process, making it easier for nominees and legal heirs to claim mutual fund units or redemption proceeds after the death of an investor.

In a press release dated 17 July, the market regulator said it has advised the Association of Mutual Funds in India (AMFI) to revise and simplify the standards governing the "Procedure to Claim Units / Proceeds upon death of a unit holder."

The move is intended to address operational challenges frequently faced by families during the transmission process while ensuring a smoother and more uniform experience across mutual fund houses.

The regulator ...