New advertisement code makes registered investment advisors see red

RIAs cry foul over disparity as finfluencers don't have to bear additional costs or regulatory compliance

Markets regulator SEBI’s latest norms on advertisements has put the registered investment advisors (RIAs) in a fix as they are seeking clarification on a clutch of issues, including what qualifies as an advertisement.

Starting May 1, the Securities and Exchange Board of India (Sebi) has mandated investment advisors and research analysts to seek prior approval of advertisement from SEBI-recognised BSE Administration & Supervision Ltd (BASL).

BASL has seen a host of queries seeking clarity on charges and what qualifies as an advertisement. RIAs are also raising objections on increased cost and compliance burden along with the free run enjoyed by