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Don't use our logo, warns ASIC

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Australian Broker | 18 Aug 2011, 05:30 AM Agree 0
ASIC has warned licensees to stop using the regulator's name and logo in their advertising
  • Ozboy | 18 Aug 2011, 10:02 AM Agree 0
    “ASIC is concerned that use of the ASIC name and logo in conjunction with these identification requirements could cause consumers to believe the business or company is in some way endorsed or approved by ASIC,” commissioner Peter Boxall said.

    Ok is this just me but I thought if ASIC furnished you with an ACL then you were "approved" by ASIC to be an ACL holder. Is this dry cleaning legislation "all care but no responsibility"?

    Granted use of their logo etc is pushing it but at the end of the day they have "approved" the license holder, time to take ownership.

    It seems there is a wave of this going on at the moment first Choice and now ASIC, if these large organisations are trying to bypass their own responsibility's then what hope have we got.
  • Sally | 18 Aug 2011, 10:43 AM Agree 0
    ASIC might give you a licence to provide Credit Assistance, but putting their name on your website could easily appear that they are approving all your activities. The two don't go together. I know of one of the "preferred trainers" that was also asked to remove the ASIC logo. It really is trying to use someone else's credibility and claim it as your own. Would you display The Road Transport Authority's logo because you have a drivers license?
  • Ian Jervis | 18 Aug 2011, 11:51 AM Agree 0
    I agree with Ozboy, this position is akin to the MFAA saying we can't show their logo because someone might think that the MFAA approved of what we did. I guess the question becomes, did ASIC approve us or not? and if they didn't, I want my money back.

    Sally, if you were in the road transport business, I don't see anything wrong with displaying the RTA logo for the purposes of showing who you are accredited through. If you go into a doctors surgery, they have their accreditation's up for all to see and they are rightly proud of the institutions that they are accredited with.

    This attitude is probably predictable given that ASIC wouldn't even issue a certificate (to display in our offices) when the licenses were granted. They maintained that if you wanted to show someone you had a license that you needed to show them the 4 or 5 pages of diuretic drivel that constituted the granting of a license.
  • Johnathon | 18 Aug 2011, 02:32 PM Agree 0
    I don't see the big issue, I am proud of my own achievements in my own business. I don't need to hang off ASIC's credibility. I will stand proud on my own thanks.
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