The main purpose of this paper is to aims to analyze the present situation of advertising self-regulation in Portugal and compare with Spain. First, data provided by the Portuguese institute of advertising self-regulation (ICAP) regarding complaints submitted in the years 2007 to 2009 was compared with data from Auto Control (Spanish self-regulatory body) of Spain. Second, an in-depth individual interview was conducted with the Chairman of ICAP. Portugal shows fewer complaints, which may indicate less informed or demanding consumers, and which clearly demonstrates that the Spanish consumer associations resort to their self-regulatory body to solve cases of illegal advertising. The analysed data was collected from secondary source. Despite the credibility of institutions that gathered the data, it was not carried out a survey that allow us a better understand of the differences in advertising self-regulation of the two countries and the attitude of Portuguese and Spanish consumers. Official entities should be awake for the research results in order develop campaigns to raise awareness among consumers for the negative consequences of the illegal and no ethics advertising in the consumer's life. As far as we know this is the first time that the situation of advertising self-regulation is compared between Portugal and Spain, in number of complaints, type of infraction, type of source, offender's sector of activity, media where the advertising was placed.