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Sebi tightens advertisement and valuation norms for MFs

The Securities and Exchange Board of India (Sebi) has further tightened advertisement norms for asset management companies (AMCs), putting greater responsibility for fair valuations on fund managers. In its latest amendment to regulations for the fund industry, Sebi has widened the definition of “advertisement” to include all forms of communications on behalf of an AMC, which may influence the decision of an investor. Fund houses have been barred from using a celebrity as part of the advertisement. They have also been asked to discourage any slogan unwarranted and unrelated to ...