Credit Suisse Investment Services and UBS have revised their promotional materials for complex financial products in Australia following a regulatory crackdown on potentially misleading ads.

Both banks are cooperating with the directive. Instreet Investment, which distributes a structured product issued by UBS, has already removed possibly misleading statements from its website and stopped giving the materials out through financial advisors.

"This should provide further encouragement for the industry to take a strong role in ensuring ads and product labelling help consumers make confident and informed decisions," added Kell.