Sebi weighs allowing celebrity endorsements for market entities

Sebi has released a consultation paper proposing a common advertisement code (CAC) for stock brokers, mutual funds, investment advisers, research analysts, portfolio managers, online bond platform providers, and depository participants. The regulator is considering allowing celebrity endorsements at the brand level for financial entities, though celebrities would not be permitted to endorse specific investment products or services. Sebi noted that the current requirement of prior approval for every piece of content is inefficient in the digital era, and proposed a shift towards a post-issuance reporting model similar to what mutual funds already follow.