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The regulators are empowered to apply a mixture of sanctions, the principal one being the finding that a particular advertiser is not ‘fit and proper’ to continue to have a licensed registration with the relevant registering or licensing authority.
This is a possible concern of a licensed securities dealer regulated by the SFC in respect of which a breach of the advertising controls on investment opportunities runs the risk of the licensed dealer being found not ‘fit and proper’ to continue as an SFC licensee. The current major concerns of regulators are clearly provided for in the relevant respective legislative enactments providing for regulation or control of advertisement content and schedules.
On the whole, the internal self-regulation of the advertising industry through the 4As Code has, over many years, proved itself to result in a well-moderated discipline of approach and outreach and works well.
What avenues are available for competitors to challenge advertising?
What are the advantages and disadvantages of the different avenues for challenging competitors’ advertising?
Hong Kong has a Consumer Council established under the Consumer Control Ordinance.
The Broadcasting Ordinance specifically provides that the internet is not a television programme service and therefore not a broadcasting service requiring a licence.
May advertisers seek advisory opinions from the regulator?
The Communications Authority has power to impose sanctions on licensees who do not comply with this Code.