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In 1962, an official report on Consumer Protection by the Molony Committee rejected the case for an American-style Federal Trade Commission to regulate advertising by statute. ‘We are satisfied that the wider problem of advertising ought to be, and can be, tackled by effectively applied voluntary controls,’ reported the Committee. ‘We stress, however, that our conclusion depends on the satisfactory working of the new scheme, and in particular on the continued quality and independence of the Authority at its pinnacle.
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