ASIC has released a consultation paper CP178 about credit advertising. The CP contains a draft revised RG234 which provides useful guidance for the finance industry.
Comments on the CP are due by 6 August 2012. The CP and draft revised RG234 can be accessed here.
There is little controversial in the CP other than the proposed prohibition on representing goods are for sale when they are financed by a consumer lease.
The RG provides some useful guidance and reminders of good practice. Some key excerpts appear below (some are edited to save space). The ‘we’ in these excerpts is, of course, ASIC. More…