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Developer fined for 'misleading' ads

A Perth developer and builder recent campaign to attract investors has drawn the ire of the corporate regulator, with the Australian Securities and Investments Commission imposing a fine of more than $40,000 for misleading advertising.

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Perth WA
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.

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14th↑Nicheliving245
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