Electronic Retailing Self-Regulation Program (ERSP)
The Electronic Retailing Self-Regulation Program (ERSP) offers proactive telemarketing monitoring and an expeditious system for review of lead advertising and marketing for companies offering coaching and mentoring services in the wealth education industry. Additionally, ERSP provides a process for challenging competitor advertising claims in the wealth education industry to discourage marketing that contains unsubstantiated claims, and to demonstrate the strong industry commitment to meaningful and effective self-regulation.
ERSP is responsible for evaluating the truth and accuracy of core claims made in direct response advertising. Policy and procedural oversight for ERSP is provided and administered by BBB National Programs (BBB NP).
ERSP strives to promote truthful and substantiated advertising and accordingly, endeavors to:
- Enhance consumer confidence in the industry.
- Provide an independent review of telesales calls, seminars, and accompanying scripts/presentations to ensure that advertising is truthful and accurate.
- Reinforce truth and accuracy in lead-generation advertising.
- Demonstrate to regulatory agencies the coaching and mentoring industry’s commitment to effective self-regulation.
Advertising and Telesales/Live Seminar Assessments
Participating companies provide advertising materials and upload all telesales calls and/or free live seminar recordings to an FTP server. ERSP provides the participant with an assessment that focuses on issues, including:
- Caller identification
- Misleading sales pressure
- Earnings claims
- Typicality disclosures
- Prohibited misrepresentations and pre-purchase disclosures as per FTC’s Telemarketing Sales Rule
- Discounted and limited time offers
- Right of recession representation
- Coaching credentials/expertise
Participation in the program shall not be construed or represented as an endorsement or approval by ERSP or BBB NP of a company, product, or service, and will not assure the marketer that some other action, filing, or adverse finding will not occur in another regulatory or self-regulatory forum (i.e., such as the FTC or the National Advertising Division of BBB NP). Similarly, a marketer’s modification of advertising, in cooperation with ERSP’s self-regulatory efforts, will not be construed as an admission of any impropriety.
Companies participating in the program will be asked to sign a participation agreement with ERSP.
For more information about ERSP, please contact Peter Marinello at email@example.com or 212.705.0106.