22/8/2024, 9:44:03 am

Zerodha’s referral stoppage exposes the dark side of influencer marketing

Zerodha on Wednesday stopped its popular referral programme after the NSE's 14 August circular mandated that all referral fee earners be registered as “authorized persons" or APs with brokers and stock exchanges. The broking industry, as a whole, leveraged the power of financial influencers to grow their business with influencers earning referrals or affiliate commissions from brokers.