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<h1>Regulation 44B bans stock exchanges from associating with unauthorized securities advisors unless using Board-approved digital platforms.</h1> Regulation 44B of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 prohibits recognized stock exchanges and clearing corporations, or their agents, from associating with individuals who provide securities advice or make performance claims without authorization from the Board. This restriction does not apply when associations occur through specified digital platforms approved by the Board. Associations include financial transactions, client referrals, IT system interactions, or similar connections. The regulation clarifies that those involved in investor education are exempt, provided they do not engage in unauthorized activities.