The Bombay Stock Exchange (BSE) on March 22, 2024, notified regarding the Restriction on use of certain words by Trading Member or Authorized Person in their name.
It is observed by the Exchange that Trading Members/ Authorized Persons are still 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 even though they do not have the applicable registration for those services with SEBI/other regulators.
In this regard, Members are advised to ensure 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 in the Exchange records by March 31, 2024.
[Notification No. 20240322-10]
