Do you agree with Vodafone advertising campaign , where dwarfs used to promote the new offerings and the most important question ... Are advertising campaigns subject to ethics and professional standards ?

could you please share the campaign  link ?

I haven't seen the advert yet but citing the last paragraph of your assertion, "are advertising campaigns subject to ethics and professional standards" Yes they are and they must be. This should be well laid down or stipulated by the regulatory advertising authorities in the laws governing and regulating advertising and marketing in every society. On the other hand companies also must respect and adhere to the minimum standards and regulations stipulated in order to bring harmony and a healthy business environment.