Statistics Act, 1999
R 385
Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)Board NoticesSpecific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004Part IV : Advertising10. Advertising |
| (1) | An advertisement by any provider regarding a deposit must— |
| (a) | not contain any statement, promise or forecast which is fraudulent, untrue or misleading; |
| (b) | if it contains— |
| (i) | performance data (including awards and rankings), include references to their source and date; |
| (ii) | illustrations, forecasts or hypothetical data— |
| (aa) | contain support in the form of clearly stated basic assumptions (including but not limited to any relevant assumptions in respect of performance, returns, costs and charges) with a reasonable prospect of being met under current circumstances; |
| (bb) | make it clear that they are not guaranteed and are provided for illustrative purposes only; and |
| (cc) | also contain, where returns or benefits are dependent on the performance of underlying assets or other variable market factors, clear indications of such dependence; |
| (iii) | a warning statement about risks involved in buying or investing in a deposit, prominently display such statement; |
| (iv) | information about past performances, also contain a warning that past performances are not necessarily indicative of future performances; and |
| (c) | if the investment value of a deposit mentioned in the advertisement is not guaranteed, contain a warning that no guarantees are provided. |
| (2) | Where a provider advertises a deposit by telephone— |
| (a) | an electronic, voicelogged record of all communications must be maintained. Where no financial service is rendered as a result of the advertisement, such record need not be maintained for a period exceeding 45 days; |
| (b) | a copy of all such records must be provided on request by the client or the registrar within seven days of the request; |
| (c) | the client must be provided with basic details (such as business name and telephone number or address) of the provider, and of its relevant compliance department. |
| (3) | Where a provider advertises a financial service or product by means of a public radio service, the advertisement must include the business name of the provider. |
