TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Intermediaries) (Second Amendment) Regulations, 2026.
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....HAPTER IIID COMMON ADVERTISEMENT CODE Definitions 16G. For the purposes of this Chapter, unless the context otherwise requires: - (1) "advertisement" shall include any form of communication, endorsement or representation, whether written, audio, visual, verbal or of any other form, disseminated through any channel, including but not limited to- (a) print media (newspaper, magazines, etc.), (b) broadcast media (TV, Radio, podcasts, etc.), (c) digital media (websites, social media, streaming services, online news sites etc.), (d) outdoor media (billboards, transit ads, in-store displays) or any similar medium, issued, directly or indirectly, by or on behalf of a regulated entity in connection with or having the primary effect of promotion, invitation or solicitation in respect of any product or service offered by the regulated entity or promotion of a brand or entity; (2) "celebrity" shall include a person: (a) who has featured in the top 50 rankings in any publicly available celebrity index published by a national publication of repute. The celebrity index should be latest available or....
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....line Bond Platform Providers; (d) Investment Advisers; (e) Research Analysts; (f) Mutual Funds; (g) Asset Management Companies; (h) Portfolio Managers; and such other entities as may be specified by the Board from time to time. (4) "supervisory body" shall mean- (a) Stock exchanges for Stock Brokers including Online Bond Platform Providers; (b) Depositories for Depository Participants; (c) Investment Adviser Administration and Supervisory Body for Investment Advisers; (d) Research Analyst Administration and Supervisory Body for Research Analysts; (e) Association of Mutual Funds in India for Mutual Funds or Asset Management Companies; and (f) Association of Portfolio Managers in India for Portfolio Managers. Applicability 16H. The provisions of this chapter shall be applicable for all advertisements issued by the regulated entity in respect of products or services under the purview of the Board. Mandatory Disclosures and Disclaimers 16I. All advertisements shall contain the following information: (a) basic details such as name of th....
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....description of the nature of its activities; (g) product demonstrations (e.g. webinars, walk-throughs) showing the interface and service features provided such demonstration does not promote products or services or solicit interest to avail any product or service of the regulated entity; (h) greetings, condolences or congratulatory messages; (i) public communications inviting applications for recruitment or availing third party services provided it does not target clients or prospective clients or investors; (j) sponsorship for TV shows or talk shows and events communicating generic information about the regulated entity such as name, brand name, logo, website or app or similar details and is only limited to sponsorship; (k) surveys issued by the regulated entities to their registered clients or investors to take feedback; and (l) any other communication as may be specified by the Board from time to time. (2) Any communication which promotes products or services or solicits interest to avail any product or service of a regulated entity shall be considered as an advertisement. Celebrity Endorsements 16K....
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....sting into any schemes or for downloading mobile applications etc.; (h) in the event of suspension of any regulated entity, the regulated entity so suspended shall not issue any advertisement, directly or indirectly, either singly or jointly with any other regulated entity, during the period of suspension; (i) any other obligations, as may be specified by the Board or supervisory body in consultation with Board, from time to time. (2) In case of any third-party issuing advertisement on any platform without the consent of a regulated entity: (a) the regulated entity shall initiate appropriate action (including legal action) within seven days from when it comes to its knowledge, under intimation to the supervisory body; (b) the regulated entity shall inform the supervisory body regarding action taken and outcome thereof; (c) the regulated entity shall prominently disclose, on its website, details of such incidents, including the details of the concerned third party and actions taken against them. Prohibition on use of dark patterns 16M. The regulated entity shall refrain from engaging in a dark pattern as specifi....