MIAA Advertising Guidelines

The Australian Securities and Investments Commission (ASIC) today welcomed the release of guidelines by the Mortgage Industry Association of Australia (MIAA) to help MIAA members avoid advertising in ways that could mislead consumers. Misleading and deceptive conduct in relation to financial services, including through advertising, is prohibited under the ASIC Act 2001.

ASIC is pleased to see this initiative by the MIAA', said Mr Greg Tanzer, ASIC's Executive Director of Consumer Protection and International Relations. 'The guidelines give a useful explanation of the key legal requirements for advertising and address a number of issues of concern to ASIC.'

'In recent years, ASIC has taken action against the use of unjustified claims of "impartiality" and "independence" and the guidelines specifically address these issues. They also make clear the need to ensure that any comparisons used are on an equal footing and that any assumptions made are clear.'

'While ASIC will continue to carefully monitor the marketplace and take action where necessary, the best outcome for consumers is if industry players avoid making misleading claims. The MIAA Guidelines should provide a useful tool in that process', Mr Tanzer concluded.

The MIAA Advertising Guidelines can be viewed at http://www.miaa.com.au/memberpdf/040920_advertising.pdf

 
Access to Police Radio .

The CMC has heard final submissions in its recent Inquiry into the issue of media access to police radio communications. With the recent introduction of digital encryption technology across parts of the police radio network, the media have lost their ability to eavesdrop on police communications by use of a radio scanner, a time-honoured practice of journalists. The CMC have been looking into what level of access the media should have to police communications. The submissions of counsel assisting the Inquiry have recommended that the media be authorised to receive a "live data feed", sent to a secure website, containing real-time information from the police communications system. To read these recommendations and the submissions of other parties, go to the CMC website on http://www.cmc.qld.gov.au