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 certain 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 even though they did not have the applicable registration for those services with SEBI/other regulators.
The indicative list of names/words which are not permitted to be used in the name of Trading Members/ Authorized Persons is mentioned in Annexure A. Members are advised to ensure that their name and the name of their registered Authorized Persons 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, 2024.
Abhijit Pai Amit Kadam
Dy. Gen. Manager Asst. General Manager
Membership Compliance & Investor Services Membership Operations
Annexure A
List of Non-permissible words in name of Trading Members and Authorised Persons
|
S.no.
|
Non-permissible words
|
S.no.
|
Non-permissible words
|
|
1
|
Adviser/Advisor
|
32
|
Mutual Funds
|
|
2
|
Advisory Services
|
33
|
Portfolio
|
|
3
|
Asset
|
34
|
Portfolio Advisory
|
|
4
|
Asset Advisory
|
35
|
Portfolio Consultancy
|
|
5
|
Asset Consultancy
|
36
|
Portfolio Consultants
|
|
6
|
Asset Distribution
|
37
|
Portfolio Management
|
|
7
|
Asset Management
|
38
|
Portfolio Manager
|
|
8
|
Asset Manager
|
39
|
Portfolio Services
|
|
9
|
Asset Services
|
40
|
Prime Wealth
|
|
10
|
Assets Consultants
|
41
|
Wealth
|
|
11
|
Capital Adviser/Advisor
|
42
|
Wealth Adviser/s or Wealth Advisor/s
|
|
12
|
Capital Management
|
43
|
Wealth Advisory
|
|
13
|
Capital Services
|
44
|
Wealth Advisory Services
|
|
14
|
Corporate Advisory
|
45
|
Wealth Care
|
|
15
|
Financial Planner/s
|
46
|
Wealth Chanakya
|
|
16
|
Financial Planning
|
47
|
Wealth Consultancy
|
|
17
|
Fund Adviser/Advisor
|
48
|
Wealth Consultants
|
|
18
|
Fundmart
|
49
|
Wealth Consulting
|
|
19
|
Independent Financial Adviser/IFA
|
50
|
Wealth Creator/s
|
|
20
|
Investmart
|
51
|
Wealth Express
|
|
21
|
Investment Adviser/Advisor
|
52
|
Wealth Investments
|
|
22
|
Investment Consultancy
|
53
|
Wealth Mall
|
|
23
|
Investment Consultancy Services
|
54
|
Wealth Management
|
|
24
|
Investment Consultant/s
|
55
|
Wealth Manager/s
|
|
25
|
Investment Consulting
|
56
|
Wealth Planner
|
|
26
|
Investment Manager/s
|
57
|
Wealth Plus
|
|
27
|
Investment Planners
|
58
|
Wealth Services
|
|
28
|
Investment Solutions
|
59
|
Wealth Solution/s
|
|
29
|
Money Manager
|
60
|
Wealth Vision
|
|
30
|
Multi Wealth Investments
|
61
|
Wealth Yantra
|
|
31
|
Mutual Fund Services
|
|
|
|