by Tony Vidler
There has recently been a key change on advertising financial services in NZ.
Any claims or representations made in advertising have to be correct and factual of course, but there is now a requirement that any representations are substantiated.
This means you need to back up any claims with evidence.
All the provisions of the Fair Trading Act and so on apply of course, in that advertising cannot be misleading or deceptive. The Financial Markets Conduct Act which particularly applies to financial services providers is principles based, which keeps things pretty simple in reality.
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