Proposals have been laid out by the Advertising Association calling on the Advertising Standards Authority (ASA) to regulate certain types of online marketing.
The ASA already polices paid-for online advertising like display ads as well as that on TV and radio and in the press, and the recommendations by the Advertising Association would see the organisation extend its remit to companies’ own websites and social networking activities.This would mean that businesses with an online strategy that incorporates social media sites like Facebook and Twitter may be subject to a new code calling for promotional activity to be legal, truthful and responsible.
If the recommendations are approved by the Committee for Advertising Practice (CAP), the regulations could come into effect in the third quarter of 2010.
“The industry has delivered to [the] CAP a clear mandate that first and foremost will protect consumers and children [and] that will also – crucially – protect editorial content,” commented Advertising Association chief operating officer Rae Burdon.
Last month, the Advertising Association and Warc released a report showing that digital marketing spending is rising in the UK at the expense of press advertising.
Source: Bluhalo

Hm hm.. that’s very interessting but frankly i have a hard time determining it… wonder how others think about this..