#Sweep definition update#
#Sweep definition code#

It highlights that the ASA has published several rulings about ads which offered consumers a way to write off debt in government approved schemes. The ASA has published a new Enforcement Notice about debt management ads by insolvency practitioners and lead generation companies.

#Sweep definition update#

Enhanced disclosure should be prominent, interruptive, and sufficient to identify the marketer and the commercial intent of the ad.ĪSA and CAP issue enforcement update on debt management ads However, when young children (under-12s) are the primary audience for an advertisement, it is important to consider whether more enhanced disclosure may be required. It allows consumers to recognise the commercial intent behind the messaging of an ad and serves to differentiate it from editorial content. Unless it is already apparent from context, clear ad disclosure is important regardless of the age of the audience.

#Sweep definition code#

As always, it’s best to shop around for the best rates and read the fine print.In this edition we report on the ASA’s guidance on ensuring that children know that material is advertising, the ASA’s enforcement update on debt management advertisements, the ASA’s remit statement on gambling advertising, the ASA’s statement on World Environment Day, the UK government’s response to its data reform consultation, the EU’s sweep of car rental websites, and an interesting case on copyright involving “Only Fools and Horses”.ĪSA provides guidance on ensuring that children know that material is advertisingīoth the CAP Code and consumer law stipulate that you must know when you are being advertised to.

Fees could be calculated as a percentage of the interest or as a flat fee for each transfer. However, the benefits of higher returns from investments made outside the main account can be negated by the fees charged for the account. Money market mutual funds, high-interest investment or savings accounts, and even ETFs and stocks are excellent options for a sweep transfer. Sweep accounts guarantee that money is not sitting in a low-interest account when it could be earning higher interest rates elsewhere. Some institutions offer flexibility for the sweep account, linking to a regular checking account, or to a money market or high-yield savings account. In both cases, a sweep account provides the customer with the largest amount of interest and the smallest amount of interference. When you trade on margin, the cash in your sweep account will also be counted towards your margin requirement. When you want to buy more securities, the cash is automatically swept back into your brokerage to buy the securities.

Sweep accounts were created because federal banking regulations prohibited interest on checking accounts.Ī new brokerage account will be set up to place cash generated by the investments until it can be reinvested.

In banking, sweep accounts allow any money above or below a set threshold to be swept from a checking account into a better investment vehicle. Funds may be held in that account until they’re either reinvested or withdrawn. In a brokerage account, unassigned funds from dividends, mutual fund distributions, or deposits can be swept into a higher-interest account. These transfers are made at the close of each business day. A sweep account is a bank or brokerage account that automatically transfers amounts above a certain threshold into a higher interest-earning investment option.