The Office of the Retirement Commissioner has permanently withdrawn a television ad that depicts a bungled attempt to hold up a bank by an individual who was both masked and armed.
The ORC says the ad was withdrawn in deference to the staff of the Bank of New Zealand who had been victims of a hold up in the week preceding the first screening of the ad in January.
BNZ, which is one of the four companies that help fund the office, said it could not support any advertisement depicting a robbery.
A compliant about the ad was also made to the Advertising Standards Complaints Board. No ruling was made about the commercial as its removal from the small screen effectively meant the matter was settled.
Meanwhile, the board has also received a complaint each about two of the other ORC ads currently running on television.
The ads in question are the one where a middle-aged couple are sitting in a church weeping before a coffin; the other is the one where a young woman shouts at her daughter.
The complainant in the first ad says "it is an offensive and despicable way to advertise saving for the retirement", while the other complainant says the woman yelling, "did not set a good example to younger viewers", and that the ad was "a real insult".
The board said both commercials were advocacy advertising that expressed messages with very important social ramifications, therefore the complaints were not accepted.
Adviser Regulation
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Discussion Forum.Financial Planners get the thumbs up
Financial planners are increasingly becoming the first point of contact for consumers seeking financial advice, according to the latest Financial Planning Association of Australia (FPA) survey.
The latest results in a tracking survey the FPA has been running since June 1997 shows that 32.3 per cent of respondents would consider approaching a financial planner for advice. The proportion of people who would consider approaching a financial planner has risen 3.5 per cent in the period from August 99 to Feb 2000.
Family (31.5) per cent holds second place in the survey, and is increasing as the source of advice. Accountants are in third place at 27.9 per cent and are slipping in the survey.
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Tougher insider trading sanctions
The Government says it will investigate introducing tougher sanctions against insider trading as part of a review of securities laws.
The adoption of both criminal and civil liability for insider trading breaches were among the options under review, acting Commerce Minister Trevor Mallard says.
He says detection and enforcement were crucial for the sharemarket.
"Effectively dealing with these problems is fundamental to ensuring the efficacy of our insider trading regime and goes some way to achieving the Government's aim of improving confidence in the sharemarket.
"We will (also) be looking at the option of adopting both criminal and civil liability for insider trading," he says.
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