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ASIC cracks down on misleading claims about investment properties

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Australian Broker | 11 Aug 2015, 08:00 AM Agree 0
'Obtain an investment property from just $59 a week': ASIC has come down on finance companies associated with a property developer for misleading advertising about investment properties
  • Kym | 11 Aug 2015, 10:16 AM Agree 0
    There will be a lot of other companies twitching at the moment go get em ASIC - this misleading advertising has been going on for a few years now..
  • Karma | 11 Aug 2015, 12:41 PM Agree 0
    It is good to see that a company that engages in car yard sale tactics with little regard for customers only their KPI's, has at last been handcuffed.
    This should at least temper the arrogance of Nicheliving and Wealth WA's Directors for a while.
    Dig further ASIC, you will be surprised what you will find.
  • Andrew Gardner | 11 Aug 2015, 01:50 PM Agree 0
    Great work ASIC. Keep it up, there are so many more out there, especially those spruiking cashflow capital
  • Nicheliving | 11 Aug 2015, 06:20 PM Agree 0
    Nicheliving Media Statement: Nicheliving acknowledges the important role the regulators have to play with respect to ensuring compliance with advertising standards. Nicheliving endeavours at all times to comply with those standards. The concerns expressed by ASIC related to the adequacy of the disclosure in the advertising of the detailed assumptions and qualifications which made it possible to invest with Nicheliving from just $59 per week utilising a negative gearing investment strategy. ASIC did not find that it was not possible to invest with Nicheliving from just $59 per week if the strategy was adopted. As soon as ASIC’s concerns were raised, the advertising in question was removed. The payment of an infringement notice is not an admission by Nicheliving of any contravention of the relevant legislation. Nicheliving is and wishes to be a good corporate citizen. It has no intention to mislead anyone and wishes only to act in accordance with the relevant statutory framework. We have assisted thousands of people to get into their own homes. For more information, please contact Nicheliving PR at
  • PeterPan | 11 Aug 2015, 07:52 PM Agree 0
    Plenty of this going on in our industry ..... Right under the noses of their aggregation groups .... Time to put a stop to these cowboys
  • Concerned client | 11 Aug 2015, 09:13 PM Agree 0
    I went to a seminar recently in bondi and my wealth manager was doing the same thing..... Will be calling Asic to notify
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