Trading Members of the Exchange while issuing advertisements in the media have to comply with the Code for Advertisements prescribed by the Exchange. In pursuance of that, a copy of an advertisement has to be submitted to the Exchange to get a prior approval before its issue in publication/media. The Trading Members may apply for approval of advertisement as per the application format. Trading Members not complying with the Code for Advertisements may have to face disciplinary proceedings.

Download Circular No. NSE/COMP/18438 dated 25 July 2011 for Procedure for Approval of Advertisement (.pdf)

The code of Advertisement is as follows:

• The term advertisement as referred in this code means and includes any document, pamphlet, circular, brochure, notice or any research report, material published, or designed for use in a newspaper, magazine or other periodical, radio, television, telephone or tape recording, video tape display, signs or bill boards, motion pictures, telephone directories (other than routine listings) or other public media, whether in print or audio visual form.
• The Trading Member should designate and authorise a person to ensure the correctness of the information given in any advertisement.
• The Trading Member issuing any such advertisement should inform the name of such authorized person to the Exchange.
• The advertisement should be related to the nature of services that the Trading Member can offer. If the Trading Member is engaged in any other business, then any advertisement, if permissible, for such business should not indicate the name of the Trading Member as a Member of the Exchange.
• The advertisement should be written in clear language and should not be such which may prejudice interest of the investors in general.
• The advertisement should not contain any confusing, misleading or offensive information.
• It should be free from inaccuracies.
• The advertisement should not contain a recommendation regarding purchase or sale of any particular share or security of any company. It should not make any promise including guaranteeing of any return to the investing public.
• The material should not contain anything that is otherwise prohibited.
• The Advertisement shall contain:
• Name and/or his logo, code of National Stock Exchange membership
•  Registration No. allotted by the Securities and Exchange Board of India
• The Advertisement may be issued individually or jointly with other Trading Members provided that the Trading Member shall not allow its name to be advertised or caused to be published in the advertisement of other Trading Members, unless such advertisement is issued by it.
• In the event of suspension of any Trading Member by the Exchange, the Trading Member so suspended shall not issue any advertisement either singly or jointly with any other Trading Member during the period of suspension.
• In the event of any proceeding/action initiated against a Trading Member by a regulatory body other than the National Stock Exchange, the National Stock Exchange reserves the right to direct the Trading Member to refrain from issuing any advertisement for such a period as it may deem fit.
• National Stock Exchange reserves the right to call for the advertisement and/or such other information/explanation as it may require, after the publication of the said advertisement. National Stock Exchange shall have 'cease and desist' powers in this behalf.
• The copy of such advertisement should be retained for a period of three years.
• A copy of the advertisement must be submitted to the Exchange within seven days before their issue. If the advertisement is found to violate any provisions of the Rules and Bye-laws of the Exchange or rules framed by the SEBI on this behalf, the Trading Member shall be subject to disciplinary proceedings by the Exchange.
• These norms will apply to any other investment/consultancy agencies associated with the Trading Member concerned.
• The above norms shall also apply to an advertisement, T.V or Cable T.V. or any other such media of audio/visual nature.
• The Trading Members should check with the Exchange in case of any doubt for advice prior to the issue of any such material or advertisement.
• The advertisement should not have any adverse reference regarding the reputation of any other Trading Members and also of the Exchange. While preparing any advertisement, a Trading Member should keep in mind that any information if found to be incorrect will affect not only the reputation of the particular Trading Member but also the reputation of the Trading Members of the Exchange in general and also the Exchange itself.
• In the event of any Trading Member of the Exchange having any grievance against any other Trading Member, consequent upon the publication of advertisement of the other Trading Member, the Exchange shall be informed of the same in writing, within a period of seven days from the date of such publication for necessary remedial measure from the Exchange.