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    <title>Restriction in having association with certain persons</title>
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    <description>Regulation 16A bars persons regulated by the Board and their agents from associating, directly or indirectly, with anyone who gives advice or recommendations about securities or makes claims about returns or performance related to securities, unless that person is registered with or permitted by the Board; associations include monetary transactions, client referrals, IT system interactions or similar relationships, and regulated persons must ensure their associates or agents do not engage in such activities without Board permission.</description>
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      <description>Regulation 16A bars persons regulated by the Board and their agents from associating, directly or indirectly, with anyone who gives advice or recommendations about securities or makes claims about returns or performance related to securities, unless that person is registered with or permitted by the Board; associations include monetary transactions, client referrals, IT system interactions or similar relationships, and regulated persons must ensure their associates or agents do not engage in such activities without Board permission.</description>
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