12731915
Description
Mind Map by MARTHA MADRIZ, updated more than 1 year ago
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Created by MARTHA MADRIZ
over 6 years ago
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|
Marketing Regulatory
Provisions
- Marketing
- Activities to capture new
customersd
- Activities to retain existing customers
- Activities to capture new
customersd
- Consumer
Protection Code
- Advertisements
- General Advertisement Requirements
- Applicable to ALL advertisements
- a number of product specific requirements
- Financial Products
- Loans
- Investment products
- Loans
- Financial Products
- Applicable to ALL advertisements
- ADVERTISEMENTS: Any commercial
communication, address to the consumer
public, with the purpose of advertising a
regulated activity or a regulated entity
- EXCLUDING: name plaques,
sponsorship material,
prospectus drawn in
accordance with Prospectus
Directive
- Print advertisements
- Radio/TV
- Flyers
- Product Brochure
- websites
- EXCLUDING: name plaques,
sponsorship material,
prospectus drawn in
accordance with Prospectus
Directive
- ADVERTISEMENTS
Gral Requirement
- Make clear that it is an advertisement
- Any consumer can reasonably be expected to know it is an advertisemnt
- Any consumer can reasonably be expected to know it is an advertisemnt
- Clear as to Who is publishing the advertisemnt
- The name of the form must
be clearly shown
- The name of the form must
be clearly shown
- Clear, Fair Accurate and NOT misleading
- Design , Presentation and content
- Design , Presentation and content
- Ensure Key information is prominent
- information must be not obscure or disguise
- information must be not obscure or disguise
- Small print only to elaborate Key Information
- must be sufficient size and prominence to be clearly legible
- must be sufficient size and prominence to be clearly legible
- Include warning Statements, where they apply
- must be in a BOx, in BOLD, size equal to the predominant font size used, appear SIMULTANEOUSLY with benefits
- if radio advertise will suffice at the end of advertisement
- if radio advertise will suffice at the end of advertisement
- must be in a BOx, in BOLD, size equal to the predominant font size used, appear SIMULTANEOUSLY with benefits
- Disclosed Tied Status, if tied to one Financial Institution
- Explain any Initialism or acronyms, eg. APR, CAR
- Disclosure of
regulatory status
- Full Legal Name,
Trading as , is
regulated by the
central bank of
Ireland
- No additional text to be added
- Must not be pesented as to
appear to be en
endorsmemt
- No additional text to be added
- Full Legal Name,
Trading as , is
regulated by the
central bank of
Ireland
- Inclusion of warning statements,
vary by the type of financial
product
- Warning: the value of your
investment may go down as well as
up
- Warning: if you invest in this
product you may lose some or all of
the money you invest
- Warning: if you invest in this
product you may lose some or all of
the money you invest
- Use of the term INDEPENDENT and BROKER
- INDEPENDENT
service
- that service is provided
on the basis of a fair
analysis of the market
- At least 75 % of its annual turn over
derived from a " FAIR ANALYSIS OF THE
MARKET " basis
- At least 75 % of its annual turn over
derived from a " FAIR ANALYSIS OF THE
MARKET " basis
- Consumers has option of paying
for that service by fee
- that service is provided
on the basis of a fair
analysis of the market
- INDEPENDENT
firm
- Principal ACTIVITIES of
a firm are provided
on a fair analysis
basis
- Consumers has option of
paying for any services by fee
- At least 75 % of its annual turnover
derived from a " FAIR ANALYSIS OF
THE MARKET " basis
- At least 75 % of its annual turnover
derived from a " FAIR ANALYSIS OF
THE MARKET " basis
- Consumers has option of
paying for any services by fee
- Principal ACTIVITIES of
a firm are provided
on a fair analysis
basis
- BROKER
- PRINCIPAL ACTIVITIES
of a firm are
provided on a fair
analysis
- At least 75 % of its annual
turnover derived from a "
FAIR ANALYSIS OF THE
MARKET " basis
- At least 75 % of its annual
turnover derived from a "
FAIR ANALYSIS OF THE
MARKET " basis
- PRINCIPAL ACTIVITIES
of a firm are
provided on a fair
analysis
- INDEPENDENT
service
- Warning: the value of your
investment may go down as well as
up
- Make clear that it is an advertisement
- General Advertisement Requirements
- Personal Visits and
Unsolicited phone calls
- Applicable
to
- n/a
- MIFID investment Services
- MIFID investment Services
- ONLY
- MIFID in relation to
- Insurance
- PRSAs
- Tracker Bonds
- Deposits
- Insurance
- MIFID in relation to
- ALL firms
established in the
estate Licensed or
Authorised by the
Central Bank
- ALL firms established
and Authorised or
Licence In another EU
member estate
- CREDIT UNIONS:
in respect of
core savings and
loans
- Credit Union when
acting as Insurance
Intermediary
- Credit Union when
acting as Insurance
Intermediary
- n/a
- Advertisements
- Data Protection
Act
- Restrictions on
the use of
personal data
for marketing
- Seek to protect the privacy of
individuals and their personal
information
- imposing various restrictions on firms
- USE OF PERSONAL data for marketing
purpose
- Personal data
should
- Obtain and Process
Fairly
- Used for only 1 or more SPPECIFIED, explicit and legitimate
purpose
- should not be process in a manner incompatible with the
purpose(s) for which it was optained
- Be adequate,relevant and not excessive for the purpose(s) for which
it was collected
- Be Accurate, complete and, where necessary, kept up to date
- Should not be kept for longer than necessary for the purpose of which was collected
- FIRMS: are
the data
controllers
- Data controllers must
take appropriate security
measures against
unauthorised access
- OR unauthorised
alteration, disclosure or
destruction of, the
personal data
- In particular where the
processing involves the
transmission of data
over a network, or
against other unlawful
forms of processing
- In particular where the
processing involves the
transmission of data
over a network, or
against other unlawful
forms of processing
- OR unauthorised
alteration, disclosure or
destruction of, the
personal data
- Data Controller must
give a copy of
personal data held
upon individual
request
- breaches
- penalties up to 100k, may be order to delete all or part of their data based
- penalties up to 100k, may be order to delete all or part of their data based
- breaches
- Data controllers must
take appropriate security
measures against
unauthorised access
- Obtain and Process
Fairly
- Personal data
should
- USE OF PERSONAL data for marketing
purpose
- providing certain rights to consumers
- Access
- Correct inaccurate information
- have certain data and information removed
- complain to the data protection commissioner when they feel data had been
misused
- Access
- imposing various restrictions on firms
- PERSONAL DATA relating to a living
individual,who is or can be identify
from the data or the data in
conjuction
- Automated data held in computer
- Manual data held in paper
systems
- Automated data held in computer
- These principles are binding, any
failure to observe them is a
breach of the Data Protection Act
- fines up to 100k
- and /or may be ordered to
delete data held
- Customer cannot
be market for any
other product not
specify in the
data protection
consent
- Firms cannot
use clients
details to try t
market to
him/her some
other product
or service or to
pass on her
personal
details to
another entity
UNLESS OPT IN
in the consent
form
- fines up to 100k
- Restrictions on
the use of
personal data
for marketing
- Electronic Privacy Regulation
- Restrictions on use
of email, texting and
phone calls
- email & Texting
- THE FIRM must
- At the time of the of the
selling pf product/service
- give the consumer the
opportunity to opt out of
the future use of his or her
email address or mobile
number for marketing
purpose
- give the consumer the
opportunity to opt out of
the future use of his or her
email address or mobile
number for marketing
purpose
- At the time of the of the
selling pf product/service
- IF individual
DID NOT opt
out
- The Firm CAN can send
unsolicited email/text ONLY IF
- If product market or serviced
is the Firm own product
- If Product market now is similar to that originally supplied by the firm
- If consumer is CLEARLY and DISTInCTLY given the
opportunity to object, in an eease manner and without
charge, to use of his email pr text ex. OPTOUT UNSUBSCRIBE
- the sale of the original product or service
occurred within the last 12 months
- is deemed to he
opted out if the
firm has not
send him
marketing
information for
the las 12 month
- is deemed to he
opted out if the
firm has not
send him
marketing
information for
the las 12 month
- If product market or serviced
is the Firm own product
- The Firm CAN can send
unsolicited email/text ONLY IF
- THE FIRM must
- email & Texting
- Websites
- the use of cookies
on websites
- or Privacy statement
ion website
- or Privacy statement
ion website
- Telephone Contact
- A regulated entity may
make telephone
contact with a
consumer who is an
existing customer,
only if:
- EXISTING CUSTOMERS
- ONLY IF
- the regulated entity has, within
the previous twelve months,
provided that consumer with a
product or service similar to
the purpose of the telephone
contact
- the regulated entity has, within the
previous twelve months, provided that
consumer with a product or service
similar to the purpose of the
telephone contact
- the consumer has given his or
her consent to being contacted
in this way by the regulated
entity.
- the regulated entity has, within
the previous twelve months,
provided that consumer with a
product or service similar to
the purpose of the telephone
contact
- ONLY IF
- CONSUMERS other than
an existing customer
POTENTIAL CUSTOMERS
- ONLY IF
- the purpose of
the telephone
contact is limited
to offering
protection policies
only; or
- ALL GENERAL insurance
- life assiurance, such motor
and liability insurance
- with the purpose of provide PROTECTION
- with the purpose of provide PROTECTION
- PERMANENT health insurance
- annuaities, both conventional and unit link
- ALL GENERAL insurance
- referral with
express
consent
provided
- Listed in the BUSINESS
listed section of the
current telephone
directoty, classified or
trade professional
circulatiing in the state
- the purpose of
the telephone
contact is limited
to offering
protection policies
only; or
- MEETING POTENTIAL CLIENT
- IDENTYFY,
YOURSELF,
YOUR FIRM,
- state on bhalf of
who and reason of
the contact
- inform
telephone call is
being recorded
if that is the
case
- disclose the the
source of the business
lead or referral
- establish of they wish to
continue with phone call
/email)
- PROVIDE TERM OF BUSINESS
DOC, on a stand alone basis
before providing financial advice
- IDENTYFY,
YOURSELF,
YOUR FIRM,
- ONLY IF
- UNSOLICITED PHONE CALLS
- ONLY BETWEEN
9 AM A- 9 PM
- ONLY BETWEEN
9 AM A- 9 PM
- EXISTING CUSTOMERS
- A regulated entity may
make telephone
contact with a
consumer who is an
existing customer,
only if:
- Restrictions on use
of email, texting and
phone calls
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