SEBI notifies common ad code with pre-approval for influencer and AI avatar ads

India's SEBI has notified a Common Advertisement Code covering stock brokers, mutual funds, investment advisers and other market intermediaries. Ads featuring celebrities, influencers and AI-generated virtual influencers need prior approval, while other ads must be reported after publication. The code takes effect 180 days after its October 9 gazette publication, in April 2027.

• The code supersedes separate ad rules for seven categories of regulated entities
• Celebrity ads need approval within 4 working days; other ads reported within 3 days
• Celebrities include influencers above ASCI's threshold and AI-generated virtual influencers
• The code comes into force in April 2027, 180 days after publication