Aggregated News From Investment Management Regulators

Advertising financial products and services: obligations and ASIC’s expectations

Report/Flag

Please complete the required fields.



  • ASIC is actively monitoring financial services advertising during the COVID-19 pandemic.
  • ASIC will act where we see misleading claims and predatory behaviour.

ASIC’s newly established cross-team advertising working group is focused on two areas:

  1. Looking for advertisements that are misleading or deceptive
  2. Looking for advertisements that help us identify products or services which are unsuitable or inappropriate and may be seeking to exploit people in the current environment.

ASIC is monitoring advertising of a wide range of products and services across a broad range of media, including social media, using a mix of traditional and innovative regtech monitoring tools.

For firms advertising financial services and products

ASIC would like to remind advertisers of financial services and products that compliance with legal obligations, specifically the prohibition of false or misleading representations, is paramount during this time of uncertainty.

Particularly, warnings, disclaimers and qualifications should not be inconsistent with other content in an advertisement, including any headline claims. Warnings, disclaimers and qualifications should have sufficient prominence to effectively convey key information to a reasonable member of the audience on first viewing the advertisement.

Prior to publishing an advertisement that relates to a financial service or product, firms should have regard to Regulatory Guide 234advertising financial products and services (including credit): good practice guidance and where appropriate seek legal advice.

Source link

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

SEC Proposes to Enhance Disclosures by Certain Investment Advisers and Investment Companies About ESG Investment Practices

The Securities and Exchange Commission today proposed amendments to rules and reporting forms to promote consistent, comparable, and reliable information for investors concerning funds’ and advisers’

SEC Proposes Rule Changes to Prevent Misleading or Deceptive Fund Names

The Securities and Exchange Commission today proposed amendments to enhance and modernize the Investment Company Act “Names Rule” to address changes in the fund industry and compliance practices that

SEC Halts Alleged Ongoing $39 Million Fraud by Hedge Fund Adviser

The Securities and Exchange Commission today announced fraud charges against Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M.

SEC Charges RiverSource Distributors with Improper Switching of Variable Annuities

The Securities and Exchange Commission today announced settled charges against RiverSource Distributors Inc. for improper switching or replacing of variable annuities.

Federal Reserve Board issues Economic Well-Being of U.S. Households in 2021 report

Accessible Keys for Video [Space Bar] toggles play/pause; [Right/Left Arrows] seeks the video forwards and back (5 sec ); [Up/Down Arrows] increase/decrease volume; [M] toggles mute on/off; [F] to

Get the latest from Regulatory.News in your inbox!

×