The Notice states that 'Adverts targeted at consumers with debt problems have the potential to cause serious detriment if they do not comply with the advertising rules. Insolvency practitioners and lead generation companies which ultimately advertise an IVA/PTD service must be extremely careful to ensure their advertising is responsible and does not mislead.'
The Notice applies to ads in all media placed by UK companies or targeted at UK consumers. This includes paid-for ads in all traditional and digital media, including TV and radio, and non-paid-for advertising online, such as websites, email marketing and any social media presence you may have, including influencer and affiliate marketing.
Insolvency practitioners should read the notice to understand the kinds of advertising that are prohibited. The ASA and CAP will begin targeted monitoring and enforcement on 25 July 2022.