From Aug 12, advertisements have to comply with a higher standard of warnings, disclosures and qualifications, to ensure that potential risks are properly highlighted to the public, under the enhanced guidelines set by the Singapore's code of advertising practice
Among the new guidelines, advertisements on overseas property-related investments should clearly state what investors are acquiring (such as interest in the land, building, or property within the building).
Advertisements on overseas real properties cannot mislead or exaggerate their actual location, physical nature, legal titles, and the developers' financial position. For properties being developed, their advertisements have to state the building permit or approval numbers and the identity of the issuing authority.
They should also not contain claims that give the impression that an investment is safe, low-risk or risk-free or can generate quick, easy or high profits with little or no risk.
Advertisements on overseas properties investment, investment schemes and even investment seminars will come under the enhanced regulatory scope.
These guidelines apply to all media platforms, including online advertisements, said the Advertising Standards Authority of Singapore (ASAS), an advisory council under the Consumers Association of Singapore (Case).
Source: Business Times