Aggregated News From Investment Management Regulators

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


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 Charges Crypto Entrepreneur Justin Sun and his Companies for Fraud and Other Securities Law Violations

Eight celebrities also charged for illegal touting of Sun’s crypto asset securities The Securities and Exchange Commission today announced charges against crypto asset entrepreneur Justin Sun and t

SEC Proposes to Modernize the Submission of Certain Forms, Filings, and Materials Under the Securities Exchange Act of 1934

The Securities and Exchange Commission today proposed amendments designed to modernize its information collection and analysis methods by, among other things, proposing that a number of filings be su | Statement on Electronic Filing

Today, the Commission is considering a proposal under the Exchange Act to require broker-dealers and other registrants to submit forms electronically.

ASIC suspends AFS licence of Cartesian Corporate Finance Limited

ASIC has suspended the Australian financial services (AFS) licence of Cartesian Corporate Finance Limited (Cartesian) until 25 August 2023. The licence authorises Cartesian to deal...

Completion of Recovery Certificate No. 6075 of 2022 issued against Mr. Yash Paul Jindal [Defaulter] PAN: ACDPJ8198B in the matter of GDR Issue by...

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

Get the latest from Regulatory.News in your inbox!