The corporate regulator has proposed a significant number of changes to the way financial products are advertised, including outlawing indecipherable warnings or disclaimers.

The Australian Securities and Investments Commission’s (ASIC) draft regulations are targeted at promoters of financial products and publishers, and are aimed at providing accurate and balanced help to consumers.

“We encourage the financial services industry to strive to do more than simply meet the minimum requirement of not being misleading or deceptive,” ASIC said in its consultation paper released on Tuesday. “Rather, we encourage industry to actually take a role in ensuring that advertising helps investors and consumers to make decisions that are appropriate for them.”

Included in a list of 21 proposals is a requirement that warnings, disclaimers or qualifications in radio ads be read at a speed that is comprehensible to listeners. For film or video ads, those warnings or disclaimers should not be undermined by distracting sounds or images, ASIC proposes. And in print or internet advertising, warnings or disclaimers should be contained in the ad and not contained on another page or web page.

Also proposed by ASIC is guidelines to ensure products are clearly explained in advertisements, their risks and benefits are given balanced explanation, and terms such as “free”, “secure” and “guaranteed” be used accurately.

The financial services industry is invited to provide feedback on the proposed guidelines by October 25.