With reference to the reforms approved by the Securities and Exchange Board of India (SEBI) at its board meeting on 24 September 2026, consider the following statements:

1. A common advertisement code was approved permitting asset management companies to use celebrity endorsements for brand or entity level promotion for the first time.

2. A new formula based settlement framework was approved, under which wrongful gains are treated separately from the settlement amount.

Which of the statements given above is/are correct?