Restriction on use of certain words by Trading Member/Authorized Person in their name

National Stock Exchange of India

Circular

To All Members,

Sub: 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.

It is observed by Exchange 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. 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.

For and on behalf of

National Stock Exchange of India Limited

Ankit Kothari Senior Manager