MEDIA CENTRE
Media Centre
Press Releases
17-09-2009
Anger at ASA judgement on NatWest adverts
Robert Sinclair, Director at the Association of Independent Financial Advisers (AIFA), Association of Mortgage Intermediaries (AMI) and Association of Finance Brokers (AFB) has today expressed his concern at the decision of the Advertising Standards Authorities (ASA) to take no further action against NatWest for its Moneysense adverts. AIFA, AMI and AFB are now challenging the intermediary profession to make their voice heard and lodge formal complaints if the adverts reappear.
Robert Sinclair, Director of AIFA, AMI and AFB, said:
“There is significant industry anger at the ASA adjudication on the NatWest adverts advocating an unbiased review of your finances and the use of the FSA Moneysense brand by a commercial firm.
“As one of those who complained to the ASA they have kept me updated throughout their enquiry and decision making process. It unusually went all the way up to their Board. It is disappointing that the decision has gone against perceived common sense. NatWest understandably fought the case hard. But I think the ASA Board looked at the fact there were only 16 complaints and saw it as a tough call.
“As one of only 16 to complain I am surprised and disappointed at the decision. Many people were annoyed and more will be vexed when NatWest return to our living rooms with these adverts again, as they can now rightly do. But with only 16 people saying it was an issue why would an independent Board chastise a major plc with its evidence of how it was a fair advert.
“We can be unhappy, but there are only 16 people who can feel justifiably angry, those who tried to put an end to this advertising but failed. It was a bad call by the ASA, but I can see why. If the adverts do reappear or similar language is used again then we must unite and complain in large numbers to express our anger.
“At AIFA, AMI and AFB we will continue to put pressure on NatWest and the Financial Services Authority to deal with this and not use these adverts again. NatWest are a part of a plc that has a lot of intermediary focused businesses, so we hope they are listening. They should not see this as a victory.”
ENDS
For further information please contact:
Tony Cox/John Hood/Simon Maule, Linstock Communications – 020 7089 2080
Notes to Editors
The Association of Independent Financial Advisers was launched in September 1999. Our role is to effectively lobby the Treasury, FSA, government, the EU and other opinion formers and policymakers to ensure the regulatory and business environment is positive toward members. It is AIFA’s objective to play a critical but constructive role within the regulation process - offering insights from the "front line" of the market. AIFA is a non-commercial, not-for-profit trade body. It exists solely to bring about a better business environment for our members so they can continue to serve their clients.
Subscribe