Revised guidelines under the Singapore Advertising Practice Code were revealed Monday 3rd August 2015. These have widened the regulations to cover overseas property, overseas investments and investment seminars.
As from Wednesday 12th August 2015, advertisements must abide by rigorous standards. Warnings, disclosures and qualifications must be used to ensure that members of the Public are properly alerted to potential risks of such undertakings. Those advertising such schemes must not make claims, designed to engender the impression that the investment is safe, carries a low risk, is risk free or that it can make quick, easy high profit with small or no risk for Upper Serangoon Kovan Condo.
Upper Serangoon Kovan Condo
One of the new guidelines states that advertisements for overseas investment property must state plainly and clearly exactly what investors are buying, for example an interest in the land building or a property unit within a building. Advertisements for overseas real estate must not mislead or exaggerate in regards to the property’s actual location, nature, legal title, or the developers’ financial assets. Advertisements for properties in the process of being developed in Kovan Upper Serangoon must state the numbers of the building permit or approval and the name and details of the authority which issued the document.
The Advertising Standards Authority of Singapore, a council which comes under the auspices of Singapore’s Consumers’ Association, says that the guidelines will apply to all types of media, which will include internet advertisements. Seah Seng Choon, The Consumers’ Association Executive Director, recently told a newspaper that rapidly increasing advertisements for overseas property and investment devices had triggered a review into such advertisements. Some seminars promising that investors could earn a hundred thousand Singapore dollars in months had also caused the asset legend regulator concern.
Asset Legend Kovan Condo
Mr. Seah said that the regulator wanted to ensure that people and organizations making such claims must give proper evidence as to their truth. He added that advertisements that could not meet these standards would be forbidden.
Many see the guidelines as a way to make overseas developers subject to the same requirements as Singaporean developers when they market oversea projects in this country. Mr. Seah added that although the Advertising Standards Authority code is self-regulating in nature, advertiser risk their business reputations, if their advertisements are constantly rejected by the authority and withheld by the media owner, in exceptional cases ASAS could use the sanction of publishing details of the ASAS investigations for Kovan Condo.
The Authority has granted media owners and advertisers with contracts signed before 12th August 2015, three month’s grace to allow them to fulfill existing contractual obligations and comply with the new guidelines.