ASIC has today released RG 234, Advertising financial products and advice services: Good practice guidance, to assist promoters in complying with their legal obligations when advertising financial products and services. See the media release - 14 February 2012, for further information and related material.
It applies to advertising on the Internet, via Twitter and the like. See section RG 234.115
What is interesting is that the Guidelines also apply to publishers (such as newspapers), Internet sites, and aggregators and comparison websites. See Section E and RG234.164 and following.
"While the primary responsibility for advertising material rests with the
organisation placing the advertisement, the publisher may also have some
responsibility for the content of an advertisement."
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This website has some useful links and references: http://www.epiphanysolutions.co.uk/article-index/rights-and-laws-of-the-internet/