Sebi proposes common advertising code for brokers, mutual funds, may allow celebrity endorsements

SEBI has released a consultation paper proposing a unified advertising code applicable to stock brokers, depository participants, investment advisers, research analysts, portfolio managers, mutual funds, AMCs and online bond platform providers. Key proposals include allowing celebrity endorsements at the brand level (but not for specific financial products) and replacing mandatory prior ad approvals with post-issuance reporting within 24 hours. The framework aims to reduce compliance costs and promote ease of doing business while maintaining safeguards against misleading promotions; public comments have been invited till July 14.