The code, adopted by the IAB board at the organization's annual leadership meeting here, sets out best practices and guidelines. It builds on the Self-Regulatory Principles of Online Behavioral Advertising released in July 2009 by the IAB, Association of American Advertising Agencies, Association of National Advertisers, Council of Better Business Bureaus and Direct Marketing Association.
Current IAB members have six months to comply with the code, and new members must do so within three months of joining.
Speakers on the opening day of the IAB meeting stressed the need to focus on self-regulation to fend off government regulation.
“We have to get our act together,” said Google Chairman-CEO Eric Schmidt. He said it's crucial that players in the online space “try to respect the privacy of advertisers and end-users.”
Schmidt added: “I'm always concerned about government regulation coming in early and choking off innovation. By good behavior by all of us, we can make sure that doesn't happen.”
IAB Chairman Bob Carrigan said in his opening remarks that “data demystification” remains a key focus of the group.