ASIC announces regulatory guide for good advertising practice
The Australian Securities and Investments Commission (ASIC) has released a consultation paper and draft regulatory guide for the advertising of financial products and advice.
As part of the draft regulations, ASIC said advertising played an important role in allowing a consumer to make informed financial decisions.
"The objective of our guidance is to help promoters and publishers present advertisements that are accurate, balanced and help consumers make decisions that are appropriate for them," said ASIC chairman Greg Medcraft.
"While our guidance covers issues of good practice in advertising, it may also help promoters and publishers comply with their legal obligations not to make false or misleading statements or engage in misleading or deceptive conduct."
Comments on the consultation paper and draft regulatory guide are due by 25 October 2011.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
