The ad, created by Euro RSCG London to promote the Sports Edition car, showed a man and his young son dressed in a fancy-dress robber's costume with a stripy top, mask and a toy gun.
At first it appears the boy is on his way to a party, because he says to his father: "I don't want to go. I won't know anybody."
The man ruffles the boy's hair and reassures him that everything will be fine. The boy gets out of the car, takes out a toy pistol and walks away.
The man looks over to a nearby poster ad showing the new car with a voiceover: "The new Peugeot 206 Sports starts from just 拢8,995 so you don't have to go to extreme lengths to own one."
Alarm bells are heard ringing and the boy runs out of the bank with two bags filled with notes. He jumps into the back of the car shouting "drive Dad, drive!", and the viewer realises he has robbed a bank.
Viewers complained it was inappropriate to show children acting illegally and coerced into doing something against their will.
The Broadcasting Advertising Clearance Centre said that it has cleared the ad because it was not in breach of guidelines and was "never at any stage meant to offend people, encourage emulation or trivialise crime and gun culture".
It said the ad was "clearly light-hearted" and that the essence of the joke lay in the apparent normality of the situation at the start where the boy appeared reluctant to go to a fancy dress party.
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