EMBiz: False Advertising Laws Marketers Should Know
False Advertising Laws Marketers Should Know
Laurel Mintz
Hi, everyone. Laurel Mintz here with Elevate My Brand. Today, we're gonna talk a little bit about false advertising laws that marketers need to know.
Now, as you know, I'm a lawyer by education, don't hold that against me, but it does make me a little unique in this space and actually that's why a lot of the more regulated industries have historically come to us to market them.
Who Oversees False Advertising
The federal government has all these laws that govern how advertising is used and what you can and can't do and how they enforce it in the United States. It's really done by the FTC, the Federal Trade Commission. There's an FTC Act which prohibits what they call unfair or deceptive acts or practices which means you can't claim something that isn't real. And that's a lot of things around health and wellness products, anything you're consuming again, those really regulated industries. You can't say that this pill does XY&Z if you don't have all of the medical backing and all of the experiments that prove it. And that's what the FTC oversees. There's also what's called the Lanham Act, which, is a federal false advertising statute. And there's also the Dodd Frank Wall Street Reform Act, and Consumer Protection Act.
Basically, there's a lot of different sides to this. There are a lot of times when the government will say caveat m tour or buyer beware, but they have implemented these different laws to protect us as consumers and to make sure that we aren't, being advertised to in ways that are intentionally false and deceptive.
Regulatory Bodies To Know
There are so many different regulatory bodies that take their little piece of marketing, dollars in terms of oversight and regulation. I'm gonna run through them today and you'll see, it's, it's a lot. Just know where you fall into.
FDA regulates prescription drugs and biomedical advertising
CFPB regulates consumer Financial law or non-banking financial companies
The Department of Transportation regulates airline advertising
SEC regulates false advertising of securities.
FINRA regulates the financial industry
Federal Alcohol Administration FAA regulates unfair competition in connection with the interstate sale of alcoholic beverages.
Final Thoughts
It's a lot to take in. Just focus on where your category is as a brand and just make sure that you're not breaking the laws. That's what lawyers are for. I know we all hate to hire and pay them, but they really can save you so much time, effort, energy and heartache in the long run. So don't be penny-wise and pound-foolish. Make sure you hire a great attorney who can help ensure that you avoid any legal issues.