For reasons unknown, Halloween is often the top day of the year for new marketing controls, but this year, Sunday 31 October looks like being the busiest ghoulfest on record for already harassed marketers. For a speed read on what’s in store go to
Topic: New Marketing Regulations
Who: Financial Services Authority, HM Treasury, the DTI and Ofcom
When: 31 October 2004
It is not what has happened, it is what is going to happen! Sunday 31 October 2004 will not only be Halloween, it will also be "Super Sunday" or perhaps something called by a rather different name, for all UK marketers, particularly those operating in the financial services sector. Why? Because that day will be the turning point for rule changes in no less than 5 discreet areas for UK marketers.
All these changes are separately reported in more detail elsewhere on marketinglaw.co.uk, but here, for the record, are the famous five for Super Sunday, 31 October 2004:-
1. Mortgage advertising
The Financial Services Authority takes over the regulation of the marketing and selling of the vast majority of consumer mortgages in the UK.
2. Financial services not regulated by the FSA
The Financial Services (Distance Marketing) Regulations 2004 come into force, introducing statutory disclosure requirements and cancellation rights for all consumer financial services other than those regulated by the FSA, (otherwise known as "gap" products), including consumer credit other than consumer mortgages, general insurance products until 14 January 2005 and debt management services.
Financial services regulated by the FSA
The Distance Marketing Directive Instrument 2004 comes into force, implementing the EU Distance Marketing Consumer Financial Services Directive for FSA regulated financial services.
Ed: spot the deliberate mistake: these don't qualify for official inclusion in our Super Sunday list as the in force date for these is 9 October, not 31 October.
3. Consumer Credit
The Consumer Credit (Advertisements) Regulations 2004 come into force taking the place of the Consumer Credit (Advertisements) Regulations 1989.
4. Broadcast advertising
Assuming all goes to plan, 31 October 2004 will be the last day on which Ofcom deals day to day with complaints in respect of broadcast advertising before the Broadcast Advertising Standards Authority takes over.
5. Alcohol advertising
The current Ofcom plan is that 31 October 2004 will be the last day before a much stricter regime arrives for alcohol ads on TV.
Why this matters:
If you have read all the other pieces in marketinglaw.co.uk dealing with these various developments, this won't need explaining!