National Stock Exchange (NSE) on Thursday restricted traders from using names like advisor, capital manager, and fund advisor among others.
"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 said in a statement.
As per NSE, the rationale behind this move is to prevent investors from getting misled to the fact that the trading members or authorised persons are registered for offering services other than broking services without having the applicable registration.
After this order, traders or authorised persons can only use the listed nomenclatures only if they have registered themselves in that capacity with SEBI or with other regulators. However, the exchange clarified that the list provided is illustrative and not exhaustive.
NSE further advised traders to comply with this order in the exchange and also with the Registrar of Companies by March 31 this year in case the listed nomenclatures are used.
List of Non-permissible words by NSE:
| Serial No. | Non-Permissible words | Serial No. | Non-Permissible words | Serial No. | Non-Permissible words | Serial No. | Non-Permissible words | ||||
| 1 | Adviser/Advisor | 16 | Financial Planning | 31 | Mutual Fund Services | 46 | Wealth Chanakya | ||||
| 2 | Advisory Services | 17 | Fund Adviser/Advisor | 32 | Mutual Funds | 47 | Wealth Consultancy | ||||
| 3 | Asset | 18 | Fundmart | 33 | Portfolio | 48 | Wealth Consultants | ||||
| 4 | Asset Advisory | 19 | Independent Financial Adviser/IFA | 34 | Portfolio Advisory | 49 | Wealth Consulting | ||||
| 5 | Asset Consultancy | 20 | Investmart | 35 | Portfolio Consultancy | 50 | Wealth Creator/s | ||||
| 6 | Asset Distribution | 21 | Investment Adviser/Advisor | 36 | Portfolio Consultants | 51 | Wealth Express | ||||
| 7 | Asset Management | 22 | Investment Consultancy | 37 | Portfolio Management | 52 | Wealth Investments | ||||
| 8 | Asset Manager | 23 | Investment Consultancy Services | 38 | Portfolio Manager | 53 | Wealth Mall | ||||
| 9 | Asset Services | 24 | Investment Consultant/s | 39 | Portfolio Services | 54 | Wealth Management | ||||
| 10 | Assets Consultants | 25 | Investment Consulting | 40 | Prime Wealth | 55 | Wealth Manager/s | ||||
| 11 | Capital Adviser/Advisor | 26 | Investment Manager/s | 41 | Wealth | 56 | Wealth Planner | ||||
| 12 | Capital Management | 27 | Investment Planners | 42 | Wealth Adviser/s or Wealth Advisor/s | 57 | Wealth Plus | ||||
| 13 | Capital Services | 28 | Investment Solutions | 43 | Wealth Advisory | 58 | Wealth Services | ||||
| 14 | Corporate Advisory | 29 | Money Manager | 44 | Wealth Advisory Services | 59 | Wealth Solution/s | ||||
| 15 | Financial Planner/s | 30 | Multi Wealth Investments | 45 | Wealth Care | 60 | Wealth Vision | ||||
| 61 | Wealth Yantra |
First Published: Feb 23, 2023 11:31 AM IST
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