SEBI restricts stock exchanges, clearing corporations and depositories from associating with securities advisors

SEBI vide circular dated October 22, 2024 has mandated that persons regulated by the Board (including recognised stock exchanges, clearing corporations and depositories), and agents of such persons shall not have any direct or indirect association with another person who-

1. 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 permitted by the Board to provide such advice or recommendation; or
2. 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.