ASCI diktat a bitter pill for financial, health influencers

Updating its guidelines on influencer marketing, the Advertising Standards Council of India (ASCI) has made it mandatory for financial and health influencers to provide important registration and qualification related disclosures. Siddhant Mishra explains how the field got tougher for influencers

- Siddhant Mishra

What do the new guidelines say?

As per ASCI's new guidelines, finfluencers providing advice on investments in stocks, mutual funds, F&O, etc, must prominently display their Sebi registration number as well as qualifications in adverts and on social media platforms. Appropriate credentials from Sebi, the IRDAI, ICAI, or ICSI, have to be provided based on the nature of advice.

Health or nutrition influencers or those endorsing products with certain claims must disclose relevant qualifications such as a medical degree or certification in nursing, nutrition, dietetics, physiotherapy, or psychology, etc. Compliance is mandated whenever any advice, information or endorsement of any product or service is provided, in which there is a material connection of the influencer.

Increased scrutiny

ASCI's new guidelines come at a time when the markets regulator and the government both have stepped up efforts to curb malpractices and misselling by influencers.