To what extent should advertising aimed at children be regulated by law?

I think that any product that can harm a child should be regulated. This idea is on the same lines of regulation of TV, were it is important not to expose the hazards of life at too young of an age. Take for example, cigarettes, which in the last two years has changed from marketing to children, to more regulations towards what type of ads children may or may not see. This can be observed in the new law, where advertising cannot be within so many feet of a school. Ads may also not have color which evokes emotion from a younger crowd and makes them more likely to buy these products. This is exactly the type of regulation that is needed to keep children safe.