Marketing guidelines for financial services and credit providers

There are strict rules governing the advertising and promotion of financial and credit products and services within Australia to protect consumers from being inappropriately influenced or mislead. ASIC Regulatory Guide 234 ("RG234") provides advertising and marketing guidance to Australian Financial Services Licensees as well as Australian Credit Licensees ("Licensees"). RG234 also outlines the restriction of certain terminology some of which are restrictions derived from the Corporations Act 2001.

Section 923A Corporations Act restricts the use of certain words. These include:

• Independent
• Impartial
• Unbiased

Licensees are not permitted to use these terms except in circumstances where the Licensee can meet the requirements of s923A (i.e.: they do not receive commissions, volume-based payments, or other gifts or benefits, and operate without any conflicts of interest).