The regulator said this would affect any firm that uses lead generation, including mortgage broker and insurance firms.
The ASA said it was “currently undertaking a large piece of work” which included crypto-assets and lead generation. It said it was “concerned about the number of problematic ads for lead generators we’re seeing online, especially given the financial vulnerability some people have faced through the pandemic”.
This follows a clampdown on debt advice firms earlier this year. In January, the regulator published rulings against numerous companies offering individual voluntary arrangements (IVAs) as it found they were making “misleading claims” in paid-for search ads.
It said its work was ongoing and there was currently no timescale for when any decisions would be made.