Marketing and advertising financial products RG 234

Marketing and Advertising Financial Products RG234 Explores How Compliant Marketing and Advertising Fits into a Licensee’s Obligations.

For many marketers over the years, the old adage of “not letting the truth get in the way of a good story” may have been all the justification they needed for pushing the boundaries with extravagant claims for all sorts of products. But for the financial services sector, the potential to do great harm by making unsubstantiated claims in advertising far outweighs the damage caused by unproven statements regarding the effectiveness of a teeth-whitening toothpaste.

The clear message from ASIC’s RG 234 is that advertisements for financial products and advice services must give clear, accurate and balanced messages.

RG 234 applies to any communication intended to advertise financial products, financial advice services, credit products or credit services. The good practice guidance detailed in RG 234 helps advertisers to comply with their legal obligations to not make false or misleading statements or engage in misleading or deceptive conduct. ASIC also hopes RG 234 will encourage promoters to create advertisements that help consumers make appropriate decisions.