The Commerce Commission has confirmed that by the end of next week, guidelines for texting competitions will be finalised.

Commission Chair, Dr Mahendra Reddy told FBC News that all media organisations and companies running texting competitions have been given an opportunity to make their submissions.

He says very little submissions have been received, meaning most companies are happy with the draft guideline.

According to Dr Reddy they are now working on the final guideline which will dictate terms as to how the texting competitions are to be conducted, advertised and drawn.

The new guideline will ensure transparency and fairness.