We also do not accept advertising from investment firms that are unregulated by the SEC or from investment sites lacking explanations about the risks involved with their investment approach.

New investment sites (those that have not built up reliable brandnames).

There may be cases in which we have accepted advertising from an advertiser in the past but turn down a new ad that we think is especially misleading. For example, one advertiser may have a low expense index fund that we are happy to promote, and that same advertiser may also create an ad for a very risky technology fund. If that ad says something like “Risk-free technology investing“ or minimizes the risks of a technology fund in some other way, we may very well turn down that specific ad.

(These examples are meant to be illustrative only. They are not meant to list all of the cases in which an advertiser will be turned down because we determine that they promote an investment approach that may harm investors.)

Animated creative cannot move across the content area. Animated creative is limited to one piece per run.

Advertisements may not resemble Morningstar.com content or navigation.

All campaigns must be compatible when viewed with a minimum Internet Explorer 3.0 and Netscape Navigator 3.0 browser.

All creative links and partner sites these links lead to must allow users to use “Back” button functionality to return to the Morningstar.com Web site.

Morningstar.com has the right to refuse advertising that, in Morningstar.com’s opinion, is not factually accurate or in good taste. Morningstar.com will not permit at any time the placement of any advertising for illegal or objectionable products. Advertising must not contain or link to fraudulent, provocative, deceptive, or offensive material, including material that misrepresents, ridicules, or attacks an individual or group on the basis of age, color, national origin, race, religion, sex, sexual orientation or disability.

No messages advertising gambling, alcohol, illegal narcotics, firearms, ammunition, fireworks, tobacco and materials, religion, politics, products and adult services related to pornography will be allowed on the site.