New Delhi, June 23 -- Sebi on Tuesday proposed new advertising rules that would allow stock brokers, mutual fund companies, investment advisors and portfolio managers to use celebrities to promote their brand name, but not specific investment products or services.

The proposal is part of a new Common Advertisement Code (CAC) aimed at creating a single set of advertising rules for all Sebi-regulated entities and making compliance easier.

Celebrity endorsements would be permitted only at the regulated entity's brand or corporate level, subject to prescribed conditions and appropriate disclaimers.

Celebrities would not be allowed to endorse specific investment products or services offered by such entities.

At present, such advertisements...