Financial services groups must take care with online promotions, particularly when using social media platforms, the corporate regulator has warned.

An updated regulatory guide on advertising products and services says promoters should not over-rely on click-through links or QR codes to provide warnings, disclaimers and qualifications to balance information in a headline claim.

“Where a consumer views an advertisement on a third-party site or platform, the consumer will have less motivation to actually access that additional information, because doing so will necessarily interrupt their current online activity,” it says.

“Promoters should take special care to ensure advertising on third-party sites and platforms is balanced and consumers’ attention is drawn to any warnings, disclaimers and qualifications.”

When warnings or disclaimers are used in audio advertisements, they should be read at a speed that is easy for an average listener to understand. In film and video, they should be prominent.

“In particular, reasonable consumers may not pay attention to disclaimers that are barely visible in real time,” the guide says.

Social media influencers who discuss or promote financial products and services online – sometimes known as finfluencers – must ensure promotional material is not misleading and complies with relevant laws.

Following a consultation, the guide now features additional examples of good practice or adverts that are acceptable, which depends on the circumstances and the product being promoted.

The Australian Securities and Investments Commission received 17 submissions during the consultation, including from the Insurance Council of Australia and National Insurance Brokers Association.

Regulatory Guide 234 is available here.