The National Stock Exchange (NSE), on Thursday, in an attempt to protect investors from being misled, asked traders and authorised persons from using words such as advisors, asset managers, asset consultants, investment managers, and money managers, among others in their names. NSE listed 61 words that cannot be used by traders and clarified that the list is not exhaustive.
According to a Mint report, the NSE, in a statement, said, "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 name of trading member/authorized person should reflect the registration held by the entity, the NSE said, adding, that it should in no way create an "impression of performing a role for which the entity is not registered."
The words that have been prohibited are:
1 Adviser/Advisor
2. Advisory services
3. Asset
4. Asset advisory
5. Asset consultancy
6. Asset distribution
7. Asset management
8. Asset manager
9. Asset services
10. Asset consultants
11. Capital adviser/advisor
12. Capital management
13. Capital services
14. Corporate advisory
15. Financial planner/s
16. Financial planning
17. Fund adviser/advisor
18. Fundmart
19. Independant financial adviser/IFA
20. Investmart
21. Investment adviser/advisor
22. Investment consultancy
23. Investment consultancy services
24. Investment consultant/s
25. Investment consulting
26. Investment manager/s
27. Investment planners
28. Investment solutions
29. Money manager
30. Multi wealth investments
31. Mutual fund services
32. Mutual funds
33. Portfolio
34. Portfolio advisory
35. Portfolio consultancy
36. Portfolio consultants
37. Portfolio management
38. Portfolio manager
39. Portfolio services
40. prime wealth
41. wealth
42. wealth adviser/s or wealth advisor/s
43. wealth advisory
44. wealth advisory services
45. wealth care
46. wealth chanakya
47. wealth consultancy
48. wealth consultants
49. wealth consulting
50. wealth creator/s
51. wealth express
52. wealth investment
53. wealth mall
54. wealth management
55. wealth manager/s
56. wealth planner
57. wealth plus
58. wealth services
59. wealth solution/s
60. wealth vision
61. wealth yantra