Why does the industry self-regulate?

Self-regulation encourages the industry to take responsibility to ensure legal, decent, honest and truthful advertising communications to consumers. There are a number of incentives. Most advertisers do not want to deliberately mislead or offend current or potential customers. They understand the importance of responsible advertising of restricted products and engage with pre-vetting processes and code-compliance prior to the release / publication of advertising. If consumers trust advertising, it is more effective. Advertising self-regulation also works best alongside a legislative framework. There are over 50 pieces of legislation covering advertising content or placement in New Zealand.