The Advertising Standards Council of India (ASCI) said medical practitioners, health and fitness, and finance experts holding certifications from recognised institutions are required to “disclose” that they are certified experts and practitioners while sharing information or promoting products or services or making any health-related claims.
All advertisements published by social media influencers “must carry a disclosure label that clearly identifies it as an advertisement”, the ASCI said as it issued fresh guidelines on August 17.
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“Influencers providing advice and/or promoting and/or commenting on merits or demerits on aspects related to commercial goods and services, in the fields of Banking, financial services and insurance (BFSI) and Health & Nutrition, must have the necessary qualifications and certifications in order to provide such information and advice to consumers,” ASCI said in a press release.
Qualifications mandatory
Under the new guidelines, finance influencers also known as ‘finfluencers’, if advising about stock or investments, must have been registered with SEBI and their SEBI registration number should be stated with their name and qualifications. For other financial advice, the influencer must have suitable qualifications such as an IRDAI insurance license, CA, CS etc. “In addition, they must abide by all disclosure requirements as mandated by financial sector regulators from time to time,” the regulatory body said.
Meanwhile, for posts related to health and nutrition, the influencer must have relevant qualifications such as a medical degree, or be a certified nurse, nutritionist, dietician, physiotherapist, or psychologist depending on the specific advice being given.
The ASCI said influencers must disclose their qualifications and registration or certification details prominently and in the case of promotional content, advised them to review and satisfy themselves that the advertiser is in a position to substantiate the claims made in the advertisement.
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These additional guidelines for celebrities, influencers, and virtual influencers in the field of health and wellness were earlier released by the nodal Consumer Affairs Ministry. The Department of Consumer Affairs will actively monitor and enforce these guidelines. Violations may lead to penalties under the Consumer Protection Act 2019 and other relevant provisions of the law.
Why these guidelines?
The guidelines, introduced initially in May 2021, aim to help consumers identify promotional content and make informed decisions on products or services. The guidelines have been amended in keeping with the rapidly evolving nature and extensive impact of digital platforms, ASCI said.
Inaccurate and deceptive advertising content in categories such as BFSI, and health and nutrition products and services, could significantly impact consumer well-being and financial security.
Stating that “a one size fits all approach can be dangerous”, Manisha Kapoor, CEO and Secretary General, ASCI, said: “As losses to consumers could be substantial and serious due to improper advice in the categories of health and finance, it is necessary that influencers in these two critical categories are qualified to provide advice and that these qualifications are stated upfront, whenever they put out such advertising posts.
Unlike celebrities whom consumers clearly know the fields they belong to, consumers may not necessarily know which influencers have the necessary qualification and expertise to provide the right advice and also inform them of any associated risks. To safeguard consumers from the consequences of advice from non-experts, these additional requirements should now be followed by health and financial influencers,” she said.
The guidelines have been released after discussions with the stakeholders including the Ministry of Health, the Ministry of Ayush, Food Safety and Standards Authority of India (FSSAI), and Advertising Standards Council of India (ASCI).
(With PTI inputs)
