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IPA alerts members’ of consultation responses

The IPA has responded to two consultations: by the Treasury on the implementation of the EU Mortgage Credit Directive and by the Financial Conduct Authority (“FCA”) on Social Media and Customer Communications Guidance. Both consultations address the need to be ‘fair, clear and not misleading’ in marketing communications. The IPA supports both consultations and an overview of the consultations and responses is below.


The implementation of the EU Mortgage Credit Directive

The government launched a consultation on incorporating new European Regulations on mortgage lending into UK law. The IPA supported the Advertising Association’s response that marketing communications should be “fair, clear and not misleading” and made the point that consumers are not best served by advertisements which incorporate lengthy, mandatory terms or information notices. As the AA explained, there needs to be a better balance in the interests of both businesses and consumers.

Says Richard Lindsay, IPA Director of Legal & Public Affairs: “Lengthy terms and conditions or mandatory information notices included within advertisements are unlikely to benefit consumers. It would surely be more helpful to consumers who may be interested in a particular, advertised product or service, to be pointed to an alternative source of information to enable them to make an informed decision. Whilst particularly acute in radio, the problem extends across other media.”

View the consultation here.

Social Media and the Customer Communications Guidance

The FCA’s consultation aims to give guidance and confirm their approach to the supervision of financial promotions in social media, particularly in character-limited forms. The IPA supports the FCA’s overarching principle that marketing messages generally, regardless as to the medium, should be fair, clear and not misleading and again makes the point that it would be to the benefit of consumers if ads were able to point them to other sources of more detailed information about a product or service.

Says Richard Lindsay, IPA Director of Legal & Public Affairs: “All platforms have constraints and consumers are not best served by the inclusion of lengthy, mandatory notices in advertising. Such notices would be better placed on other easily accessible publications, such as websites, to which consumers could refer at a time of their choosing when requiring further information.”

View the consultation here.

Last updated 13/11/2014

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