Under the new code, the ASA would have the flexibility to clamp down on all forms of irresponsible advertising in broadcast media, as it already has with non broadcast ads.
The plans form part of a simultaneous 18 month review process of the UK’s Advertising Codes by watchdogs CAP and BCAP – the first in their almost 50 year history.
The two bodies are asking the public to give their views on a series of proposed new, simplified advertising standards, although both propose to maintain distinct non-broadcast and broadcast codes.
The aim is to ensure the self regulation system continues to reflect changes in both society and advertising.
Among the proposals are new restrictions placed on computer and video games ads to enhance the protection of children, along with rules to prevent marketers from collecting data from under 12s without parental or guardian consent.
Other sector-specific plans include allowing the charity sector to air comparative ads on TV and radio and allowing gambling tipsters to advertise on TV for the first time.
Advertising via digital media such as companies' own websites is not included, because it is already being reviewed by the Digital Britain report.
The proposals also fail to address concerns surrounding the advertising of alcohol and junk food to children.
Andrew Marsden, chairman of the Code Review Working Groups, said: "Industry should be proud of its active commitment to self-regulation which is a great example of corporate social responsibility in action."
The consultation will be open for three months until 19 June.
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