Advertisers and agencies have been told to follow much stricter rules when entering into contracts under a new landmark code of conduct designed to restore market confidence in a sector hit by a series of scandals.

A code laid out by the Australian Association of National Advertisers (AANA) represents an industry-wide attempt to lay down common standards, conduct and behaviour across all levels of the Australian marketing communications industry — a liquid market where millions of dollars are transacted daily in the $14 billion sector.

Read the full Australian Business Review article here.