The Australian Securities and Investments Commission (ASIC), Australia’s company and financial services market regulator, released its latest Corporate Plan 2023-27. ASIC’s four year plan provides companies and organisations with useful insight into the regulator’s strategic priorities in respect of compliance and enforcement. This update provides an overview of ASIC’s plan.
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The new Medical Board/AHPRA “Guidelines For Registered Medical Practitioners who Advertise Cosmetic Surgery” came into effect on 1 July 2023. Health practitioners, individuals, businesses, and companies involved in advertising of health services will be subjected to greater scrutiny by the regulators who will be focusing on advertising and social media used to promote cosmetic surgery.
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This update provides an overview of the new AANA Children’s Advertising Code (which comes into effect on 1 December, 2023), as well as the AANA Code of Ethics for marketing and advertising and the Broadcasting Services (Australian Content and Children’s Television) Standards 2020 which regulates advertising content directed to children.
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Recognising the impact of current rising cost of living on Australian consumers, areas of ACCC scrutiny for 2023/24 include competition/anti-competitive conduct, fair trading and consumer protection issues in the digital economy, the energy, telecommunications and gas markets, environmental and sustainability claims, unfair contract terms and the financial services sector.
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As from 1 July 2022, advertising of therapeutic goods must comply with the new Therapeutic Goods Advertising Code 2021, which came into effect on 1 January 2022 (with a 6 month transition period which ended on 30 June 2022). In addition, all advertising of therapeutic goods must comply with the Australian Consumer Law. Are your advertising campaigns complaint?
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