Misleading and Deceptive According to ASIC (2012), misleading or deceptive are issuers of notes who fail to comply with the advertising standards risk making false or misleading statement or engaging in misleading or deceptive conduct in contravention of the Corporations Act or ASIC Act . A person must not in trade or commerce, engage in conduct, in relation to financial service that is misleading or deceptive or is likely to mislead or deceive . Contravention is not an offence. The consumer can use Section 12DA to sue ANZ for creating misleading advertisement and promotion, making false predictions about future matters, creating a false impression about nature, suitability or financial product and withholding the relevant and important information. …show more content…
RG 234 applies to promoters and provider of financial services and product. It covers all the products that are licensed to provide and recommend to clients and also all the financial planning service. ASIC have the power to certify that all advertising is done with a transparent, ethical manner and well balanced. However, serious penalties and remedies can be incurred for misleading advertising. Besides, RG 234 is applying to any communication that intend to financial services or product . It will influence those who advertise their product with brochure, newspaper and social media. Case 1: 14-058MR ASIC Concerns about ANZ advertising Facts ASIC believed ANZ were not insufficiently prominent to ensure that consumers would not misled while these conditions were disclosed in the advertisement. The consumer may have been misled by the advertisement when applying for income protection insurance where Australian and New Zealand Banking Group Limited (ANZ). The advertisement for income protection insurance with a bonus of $100 ANZ Visa Gift Card that ran in newspaper and online. However, ANZ was held that the terms of offer did not meet qualification unless they maintain their policy and had breached the Section 12 …show more content…
In this case, Woolworths Limited has provided consumers with financial product as the consumer purchase the car insurance product with Woolworths Limited, which is specifically included under section 764. Outcome Under RG 234, the product should have sufficiently similar features for Woolworths to make the comparison relevant and not misleading when comparing products in an advertisement. The more that a qualification is required to balance the information contained in the headline claim, the clearer and more prominently placed that qualification should be. Woolworths Limited should compare its product in advertisement with same category of other products. Case 3: 12-153MR RAMS changes advertising in response to ASIC concerns
This article is all about the effects of advertisements. There are many things that advertisements have affected and people don’t even realize it. One main key thing that this article talks about is targeting the vulnerable
...nd Services Act 1973 (TAS), Fair Trading Act 1999 (VIC), Fair Trading Act 1987 (NSW), Fair Trading Act 1989 (Qld), Fair Trading Act 1987 (SA), Consumer Transactions Act 1972 (SA), Manufacturer’s Warranty Act 1974, Fair Trading Act 1987 (WA), Consumer Affairs Act 1971 (WA), Door to Door Trading Act 1987 (WA), Consumer is
Direct-to-consumer (DTC) advertising refers to one of the marketing strategies in a pharmaceutical industry. As pharmaceutical products directly affect people's lives and health, many industrialized countries ban DTC advertisements; the United States and New Zealand are the only industrialized countries that allow DTC advertising of prescription medicines. However, there is a controversy over whether DTC advertising, as one of the most effective forms of mass communication, should be more regulated than it is now. This debate is ongoing. This research argument, however, contends that people need stronger regulations against many DTC advertisements in the pharmaceutical industry because they are usually manipulative and misleading to people.
Calfee, John E. "How Advertising Informs to Our Benefit." Consumers' Research Magazine. (April 1998). American Enterprise Institute. 1 Jan 2000 .
A misrepresentation is a false statement of fact made by one party to a contract to the other party before the contract was made and which was one of the factors which induced the other party to enter the contract. The burden of proof is on BSHC to prove that all the above has been satisfied. WildeJames have indeed made a false statement as they have not actually carried out the survey and have therefore advised BSHC of facts which are untrue. It doesn’t appear that the statement was one of opinion and as WildeJames are experts as the maker of the statement they are in the best position to know the facts (Smith v Land and House Property Corporation). The state ment must have been one of the factors why BSHC entered the contract and doesn’t need to be the only reason Ediginton v Fitzmaurice.
Macbeth uses deception and lies to become king from killing Duncan to killing his “friend” Banquo. Lady Macbeth is not much better. She also deceives Duncan when he comes to stay in their castle. She later tries self-deception to rid her of some of the heavy guilt she is feeling. The witches use deception with Macbeth, toying with his life. Their false prophecies eventually leave Macbeth unprepared and lead to his downfall. While many different strategies are used in this play by Shakespeare to get Macbeth the kingship, deceit is the most prominent and important in the entire play.
To begin with, misleading advertising is the commercial speech “that can deceive consumers by ambiguity, through presentation or by omitting important information […] or including false information.” It is subject to federal regulation. Before 1895 fraudulent advertising was everywhere. It was not until 1893 to 1911 “when standards were in the making” due to the acknowledgement of ethical dilemmas of false advertising: deceiving the consumer and dishonesty.
Throughout the history of literature there have always been two sides to every story. There is the good side and the evil side. “Evil is the most serious of our moral problems. All over the world cruelty, greed, prejudice, and fanaticism ruin the lives of countless victims”(Kekes). Shakespeare follows this quite closely we see common victims as well as law breakers. The heroes usually have similar characteristics as one another. For example the heroes are usually brave, muscular, good looking, and fairly popular. On the other hand you have villains. Villains are usually brave as well; however they usually have some kind of deformity such as the villain in spider man. They have different beliefs than that of most other people. These are more modern villains, back in Shakespeare’s time villains were just normal people. Examples of these characters are Lago from Othello, this is a story where Lago makes a plot to take down Othello’s girl because he can’t have her so he makes a plan that will make her lover kill her. Another example of old villains is Claudius from Hamlet. Claudius is the King’s brother. Claudius secretly kills the king, takes his crown and causes a variety of problems. Last is Oberon from Mid Summer Nights Dream is Oberon. Oberon is another villain that causes problems by trying to punish his wife for her disobedience. These three characters are similar yet different. Besides the fact that they are all Shakespeare characters they are still very similar. Two ways that these characters are the same are their place in society and their talking skills, however they are different because of their motives.
Given the credit assessment cannot be made until the credit provider makes reasonable inquiries about the customer’s financial situation and requirements and objectives, and has taken reasonable steps to verify the customer’s financial information , and then taking into consideration the findings of those inquiries and objectives, made an assessment that the credit contract or credit limit increase is “not unsuitability” for the customer, then any upfront marketing that suggests a customer can take out credit, must be carefully disclaimed with a statement that any decision to lend is subject to credit assessment. This particularly impacts website and social media advertising, customer borrowing capacity letters and online calculators, indicative approval letters and any verbal statements made by the credit
Nowadays television and the advertising displayed in it is a part of everyday life in most households. What many people do not know is that television in many ways is bad. Numerous articles have been written on this. Many surveys and books have been written on this subject as well. The ads in television are what are especially bad. Some television ads are misleading.
What are lies? A lie is defined as follows: To make a statement that one knows to be false, especially with the intent to deceive. There are several ways that lies are told for instance, there are white lies, lies of omission, bold faced lies, and lies of exaggeration. No matter what type of lie that one chooses to tell many people believe that lies do more harm than good.
It is an unlawful act made by various parties of a specific good or service to inaccurately advertise their product, through false or misleading statements. (http://www.nka.com/practice-areas/consumer-rights/false-advertising-deceptive-marketing/) Advertisers should strongly evade advertisements that have the ability to deceive, regardless the fact that nobody may be deceived and the very first step is to recognizes those practices.
According to Mckendrick, a proposed definition of Misrepresentation is “A misrepresentation can be defined as an unambiguous false statement of fact which is addressed to the party misled and which induces that party to enter into contract.”
For one, advertisments will make you feel emotions and positive things about their product. Basically tricking you into purchasing a product that you may not necessarily need. It can’t force someone to purchase something but ...
Advertising is an information source to inform people about the products and prices of the company, which can help them to make informed choices. More recently, a huge amount of money has been spent on advertising throughout the world. Different types of advertisement such as television, radio, magazine, newspaper, the internet, billboards and posters can influence consumer’s behavior positively or negatively as there are different arguments and opinions. This essay will focus on the purpose of the advertisement for the company, the positive and negative effects of the advertisement on consumer behavior. According to Shimp (2007), there are five important factors which determine the purpose of an advertisement in terms of marketers’ communication with consumers.