Uruguay

Marketing of financial services must comply with the regulations imposed by the CBU. The existing regulation provides that any publicity made by any means by financial institutions must be clear, truthful and not misleading or confusing. According to article #24 of Law 17,250 of 11th August 2000, any misleading publicity or advertising is strictly prohibited. As provided by the law, misleading advertising is understood as any form of information or communication contained in messages that are wholly or partially false, or otherwise, even by omission of essential data, is able to mislead the consumer in respect of the nature, quantity, origin or price of the products and services.