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Code of EthicsCode of Ethics » Special Products and Services

Special Products and Services

ARTICLE VIII
Special Products & Services

Section 1. BANKING & FINANCIAL SERVICES

a. Advertisements for financial services such as lending, investing and other similar transactions should comply with applicable rules, regulations and circulars of the Bangko Sentral ng Pilipinas, the Philippine Deposit Insurance Corporation, the Securities and Exchange Commission, and other appropriate government agencies.

b. Such advertisements should contain a sufficiently clear, concise and complete statement of all the material terms and conditions of the offered financial product, transaction or service so that the consumer is fairly apprised of the total consideration for and the essential nature of the product, transaction or service.

c. For deposits and investment products, any mention of interest rates or yields should state if it is guaranteed to avoid misleading the public and should state the risk it may entail, if any.

d. Where other specific details that could influence the consumer’s decision are not stated, the advertisement should so indicate this and the manner in which complete information may be obtained. For this purpose, the advertisement may use a statement such as “For other important details and information, please contact or see _________.”

Section 2. EDUCATION/TRAINING INSTITUTIONS

Advertisements for educational, development or training institutions or enterprises should not exaggerate or mislead regarding the opportunities supposedly awaiting those who enroll in or complete their courses.

Section 3. ARTICLES THAT REQUIRE ASSEMBLING

All products, which require assembling, should state this clearly and prominently in their advertisements.

Section 4. ADVERTISING FOR CHARITABLE CAUSES

Advertisements involving charitable causes as beneficiaries should indicate the particular beneficiary.

Section 5. INFANT FORMULA COMPLEMENTARY FOOD, FEEDING BOTTLES, TEATS

Advertisements of Infant Formula, complementary food, feeding bottles, teats must comply with the Milk Code of the Philippines and its Implementing Rules and Regulations.

Section 6. COSMETICS

Advertisements for cosmetic products must conform with the requirements of registration with the DOH-FDA and the relevant provisions of the ASEAN Harmonization Scheme on Cosmetics.

Section 7. ARGOCHEMICAL AND VETERINARY PRODUCTS

In addition to the requirements of this Code, the advertising of agrochemical and veterinary products, particularly fertilizers and pesticides, shall likewise be governed by and should comply with the specific advertising guidelines set out by the Food and Agriculture Organization (FAO) Code of Ethics as well as all rules and regulations issued by appropriate governmental agencies.

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