Yes it should be because children do not a full understanding about the economics of life and therefore should not be targeted at advertisements and propaganda because that could be a construed as wrong because they may just be trying to get the kids to pressure parents into spending their money.
Yes, advertising should be limited to children, because children should not be encouraged to do harmful things. Things like smoking and drinking are adult topics. If children are conditions to think these behaviors are normal while they are young, they might want to do them when they are older. If the subject of the advertising is not harmful, it should be the parent's choice.
People should have the freedom to do and watch whatever they like. If people disagree, they should make sure their children don't watch it. Some people want their children to see this advertising. It is up to the parents to control what their children see not the government. I support this.