Regulatory Alerts2020-11-23
AGB Code of Conduct for Deposit Advertisements August 2012
The Association of Guernsey Banks issued this non-statutory code, supported by the Guernsey Financial Services Commission, to regulate deposit advertisements within the Bailiwick of Guernsey. The document mandates that all promotional materials must be clear, fair, and not misleading, requiring the prominent disclosure of the Annual Equivalent Rate (AER) and key product terms. It establishes specific compliance standards for interest rate quotations, bonus disclosures, and deposit compensation scheme participation across various media channels.
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