SSEBI on 26th August, 2024 has issued the Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2024. The amendment provides that no person regulated by the Board or the agent of such a person shall have any direct or indirect association, with another person who-
- Provides advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, unless the person is registered with or otherwise permitted by the Board to provide such advice or recommendation; or
- Makes any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, unless the person has been permitted by the Board to make such a claim.
