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Highlights of NSE Circular dated February 22, 2023
Restriction on use of certain words by Trading Member-Authorized
Person in their name
The name of Trading Member/Authorized Person should reflect the
registration held by the entity and should not in any way create an
impression of performing a role for which the entity is not registered.
NSE has observed that Trading Members/Authorized Persons are using
words such as Advisors, Asset/Wealth/Portfolio Management etc. in their name
which is misleading and may indicate to the clients/investors that the
Trading Members/Authorized Persons are registered for offering services other
than broking services without having the applicable registration for those
services with SEBI/other regulators.
The list of names/words which are not permitted is mentioned in
Annexure A to this Circular. Members are advised to ensure that their name
and the name of their registered Authorized Person should not contain such
words unless these entities have registered themselves in that capacity with
SEBI/other regulators. However, it may be noted that the list provided is
illustrative and not exhaustive.
In this regard, Members are advised to ensure the compliance of the
above and in case their name or the name of their registered Authorized
Persons uses such nomenclature, then they are required to get their name
changed with Registrar of Companies (ROC)/Registrar of Firms (ROF) and also
in Exchange records by March 31, 2023.
NSE Circular no. NSE/COMP/55716 dated February
22, 2023, is enclosed herewith for your ready reference.
In case of any
clarification or assistance required in implementation of this circular you
may contact
Vandana Vania– van...@secmark.in
/ 9223303460
Kaushik Jethwa – kau...@secmark.in
/ 9870210171
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