Central Bank warning over advertising

Financial services firms have been forced by the Central Bank to drop or amend misleading advertisements aimed at potential customers.

Since the start of the year a number of advertisers have been required to give balanced information when advertising financial products.

The Central Bank’s director of consumer protection Bernard Sheridan said: “The Consumer Protection Directorate’s strategy puts the consumer centre stage and our objective in relation to advertising is clear — consumers should receive balanced information on advertised financial products and services. The Central Bank expects firms to bear this in mind when designing their advertisements and in deciding what information to include.”