BusinessPhoto: Business StandardSebi Allows Celebrity Endorsements Under New Common Advertisement Code
Sebi has introduced a Common Advertisement Code for market intermediaries, permitting celebrity endorsements at the brand or entity level but banning endorsements of specific financial products or services. The code applies to stock brokers, investment advisers, mutual funds, and others. Celebrity ads require prior approval, and endorsement costs cannot be charged to clients or mutual fund schemes, as per Sebi's October 8 notification.
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