India, Jan. 30 -- The Securities and Exchange Board of India has issued a further set of clarifications on existing guidelines governing finfluencers.

The market regulator reiterated that brokers, mutual funds, investment advisers, exchanges and other market participants "cannot be associated" with unregistered influencers, neither directly nor indirectly.

SEBI has now also brought mutual fund distributors, authorised persons, portfolio management services distributors and alternative investment fund distributors under the ambit of the new rules. As per the new clarifications, the managers of these offerings are now liable to ensure compliance with these regulations.

Simply put, entities registered with SEBI have been barred from assoc...