Breaking News: ASA goes into liquidation in South Africa
This article originally appeared on Bitcoin Trading Broker
Afro Leo has just been informed that the Advertising Standards Authority of South Africa has been put into liquidation. Despite efforts put in place by the business rescue process, including a dynamic CEO, it appears that the advertising and packaging industry has been unable to resurrect a body that enabled it to self regulate. Afro-Buff followed the ASA’s attempt to revive in a series of posts over the last 18 months which can be accessed on this blog. A useful background post can be accessed here. The notice from the ASA read as follows:
“TO ALL STAKEHOLDERS AND CONTACTS,
Please take note that the ASA has been put into liquidation and we have been instructed to stop trading with immediate effect.
The marketing and advertising industry will not allow advertising to remain unregulated, and a new entity with the same purpose is urgently being established.
We realise that on many levels this will cause problems for some of your businesses, but can only say that we have done and continue to do everything we can to ensure that there is a financed and empowered self-regulator of advertising.
You can email us on gail @ clearcopy.co.za if you have any queries, but we ask you to be patient in this regard.”