Are there any laws governing advertising of financial services?

Yes, there are laws governing advertising of financial services in Pennsylvania. The state’s Department of Banking and Securities (DoBS) enforces the Rules and Regulations of the Pennsylvania Securities Act, which governs the advertising of financial services. The DoBS rules focus on protecting consumers from deceptive or misleading statements. For example, DoBS prohibits fraudulent practices, including false and misleading statements in advertisements and other representations of services. All financial services advertisements must be truthful and not omit any material facts that would affect a consumer’s financial decisions. Furthermore, DoBS also regulates how financial services are advertised in newspapers, television, and the internet. Ads must clearly state the terms and costs associated with the services being offered, and must not contain any unsubstantiated claims about the services. Finally, financial services providers must ensure that all of their advertising is in compliance with the applicable regulations, and must not engage in unfair or deceptive practices when promoting their services. This includes refraining from doing anything that is deceptive or misleading in relation to the financial services offered.

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Are there any laws governing advertising of financial services?

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