HomeNewsTrendsASCI tightens noose around health and financial influencers, asks for disclosure of qualifications

ASCI tightens noose around health and financial influencers, asks for disclosure of qualifications

The ad regulator said that health and financial influencers must disclose their qualifications and registration details on relevant endorsements in their content prominently

August 17, 2023 / 15:32 IST
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ASCI has revised guidelines for financial and health influencers
ASCI has revised guidelines for financial and health influencers

The Advertising Standards Council of India (ASCI) has revised its advertising guidelines and has placed additional responsibility on health and finance influencers.

Financial influencers, commonly referred to as ‘finfluencers’, operating within the banking, financial services and insurance (BFSI) space, can now offer investment-related advice only after being registered with the Securities and Exchange Board of India (Sebi). Their registration number must be prominently displayed alongside their name and qualifications.

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For other financial advice, influencers must possess appropriate credentials such as a license from the Insurance Regulatory and Development Authority of India (IRDAI), be qualified as a chartered accountant, hold a company secretaryship etc., ASCI said. These influencers are expected to adhere to all disclosure prerequisites as stipulated by financial sector regulators from time to time, the ad regulator added.