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TMI BlogCode of Conduct for Merchant BankersX X X X Extracts X X X X X X X X Extracts X X X X ..... nt banker shall endeavour to ensure that- (a) inquiries from investors are adequately dealt with; (b) grievances of investors are redressed in a timely and appropriate manner; (c) where a complaint is not remedied promptly, the investor is advised of any further steps which may be available to the investor under the regulatory system. 6. A merchant banker shall ensure that adequate disclosures are made to the investors in a timely manner in accordance with the applicable regulations and guidelines so as to enable them to make a balanced and informed decision. 7. A merchant banker shall endeavour to ensure that the investors are provided with true and adequate information without making any misleading or exaggerated claims or any misrepresen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... formation about its clients which has come to its knowledge, without taking prior permission of its clients, except where such disclosures are required to be made in compliance with any law for the time being in force. 16. A merchant banker shall ensure that any change in registration status/any penal action taken by the Board or any material change in the merchant banker s financial status, which may adversely affect the interests of clients/investors is promptly informed to the clients and any business remaining outstanding is transferred to another registered intermediary in accordance with any instructions of the affected clients. 17. A merchant banker shall not indulge in any unfair competition, such as weaning away the clients on assu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions of the Board or of any other regulatory body. 23. (a) A merchant banker or any of its employees shall not render, directly or indirectly, any investment advice about any security in any publicly accessible media, whether real-time or non-real-time, unless a disclosure of his interest including a long or short position, in the said security has been made, while rendering such advice. (b) In the event of an employee of the merchant banker rendering such advice, the merchant banker shall ensure that such employee shall also disclose the interests, if any, of himself, his dependent family members and the employer merchant banker, including their long or short position in the said security, while rendering such advice. 24. A merchant banke ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nker shall ensure that the senior management, particularly decision makers have access to all relevant information about the business on a timely basis. 32.A merchant banker shall not be a party to or instrument for- (a) creation of false market; (b) price rigging or manipulation; or (c) passing of unpublished price sensitive information in respect of securities which are listed and proposed to be listed in any stock exchange to any person or intermediary in the securities market.] 3 [ 33. A merchant banker or any of its directors, partners or manager having the management of the whole or substantially the whole of affairs of the business, shall not either through its account or their respective accounts or through their associates or famil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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