NSE advertisement Code for Online Bond Platform Providers

NSE has issued an advertisement Code for Online Bond Platform Providers (OBPPs). All advertisements issued by OBPPs shall contain the following information / disclosures:

1. Name of the OBPP as registered with SEBI, registered office address, SEBI Registration No. (all registration numbers and names of the Exchanges in case of multiple memberships)/OBPP ID, Logo/brand name/ trade name of the OBPP, if applicable.
2. Information, which is accurate, true, fair, clear and unambiguous (including indications of details of the platform and products on the platform).
3. Standard warning in legible fonts (minimum 10 font size) which states “Investments in debt securities, municipal debt securities/securitised debt instruments are subject to risks, including delay and/ or default in payment. Read all the offer related documents carefully”. No addition or deletion of words shall be made to the standard warning.
4. In audio-visual media-based advertisements, the standard warning in visual media-based advertisement and accompanying voice over reiteration shall be audible in a clear and understandable manner. For example, in standard warning both the visual and the voice-over reiteration containing 25 words running for at least 8 seconds may be considered as clear and understandable.
5. Any advertisements in regional language(s) shall contain the standard warning in such regional language.
6. In case the mode of advertisement is in the form of SMS/Message/Pop-up, etc. and the details such as full name, logo, complete registered office address, SEBI registration numbers and standard disclaimer are not mentioned, then a hyperlink to the official website must be provided in such SMS/Message (including whatsapp messages)/Pop-up, etc. and the website must contain all such prescribed details.
7. In case the OBPP is issuing an advertisement providing information of an available product / security on its platform, the advertisement must include the following items: (a) Name of Issuer; (ii) Tenor; (iii) Credit Rating of Issuer, if any;
8. Nature of security (secured or unsecured); and (v) Yield to Maturity (YTM)1. The advertisements may also include any other detail as has been set out in Annex – B of the OBPP Regulations at the discretion of the OBPP.
9. Name and Logo of the Exchange shall not be used by the OBPPs in their creatives / advertisement.
10. Where advertising claims are expressly stated to be based on, or supported by independent research or assessment, source of such data and the period it relates to must be indicated in the advertisement. Further, authentic sources of such information must be provided in the Advertisement.
11. OBPPs are encouraged to use simple language and avoid the use of complex technical or legal terminology or excessive details which may confuse the investors. However, use of terminology widely accepted and related to the product shall be permitted.
12. OBPPs may be permitted to utilize the term “fixed returns” in their advertisements since bonds are classified as fixed income securities.
13. Logo of other entities cannot be used unless specific approval is obtained from the respective entities.