Sacha Baron Cohen

The Academy has made it clear that the Oscar red carpet is no place for "stunting" and self-promotion -- which may prove problematic for British comedic actor Sacha Baron Cohen.

According to Academy insiders, Baron Cohen had planned on walking the carpet in costume, dressed as the main character of his upcoming film, The Dictator.

While rumors circulated Wednesday that he had been banned from the awards show as a result, the Academy denies these reports.

2012 Oscar Nominees: Who should win?

"We haven't banned him," an Academy spokesperson told The Hollywood Reporter. "We're just waiting to hear what he's going to do."

Baron Cohen received his invitation to the show as a cast member in Hugo, a film nominated for Best Picture.

The actor was reportedly banned from the Oscars back in 2010 due to "creative differences" likely stemming from a controversial Avatar-inspired skit that producers feared would offend director James Cameron.

Check out the rest of today's news

Cohen is notorious for using award shows as a platform for his cringe-worthy antics. At the MTV Video Music Awards in 2009, he dressed up in character as Bruno, a gay fashion addict, and was lowered down from the ceiling to straddle a seemingly furious Eminem.

Do you think Baron Cohen will end up walking the red carpet?

The 84th Academy Awards airs Sunday, Feb. 26 at 8:30/5:30c on ABC