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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Clarification on incentives / referral schemes

14-Aug-2024 | NSE/INSP/63425

NSE has issued a circular in reference to Exchange Circular No. NSE/INSP/43029 dated December 26, 2019, Circular No. NSE/INSP/43824 dated March 11, 2020, and Circular No. NSE/INSP/51770 dated March 25, 2022, on "Clarification on incentives / referral schemes". Reference is also drawn on SEBI Circular No. MIRSD/DR-1/Cir16/09 dated November 06, 2009, Exchange Circular No. NSE/COMP/48536 dated June 09, 2021, Circular No. NSE/COMP/56947 dated June 02, 2023, and Circular No. NSE/COMP/58438 dated September 18,2023 on "Market Access through Authorised Persons" Vide this circular, it has been clarified that any person referring a client to Trading Member should be appointed as an Authorised Person of the Trading Member after obtaining specific approval from the stock exchange for each such person. Further, Trading Member are required to ensure that their Authorised Persons are engaged only in permitted activities and are not undertaking any business which are disallowed under the Byelaws, Rules, Regulations etc.

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Recent Posts in Corporate Laws

Corporate Laws

IFSCA notifies International Financial Services Centres Authority (Electronic Trading Platforms) Regulations, 2026

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Industry Specific - Food Laws

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Tamil Nadu enacts amendment to Town and Country Planning Act, 1971

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Legal

Tamil Nadu enacts Second Amendment to the Tamil Nadu Panchayats Act, 1994

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