Inspection Reason

In recent there were investors asked the inspection team to expose more brokers whose real addresses was different from their regulation addresses. In response to investors’ strong demand, inspection team went to Golden Grand Global in New Zealand to learn more about the broker.

Office Building

According to the regulation information, the New Zealand licensed broker was located at SuiTe 1a, Level 2, 87-89 AlberT STreeT Cbd Auckland. The surveyor decided to visit the broker.

Since the destination was easy to find, the surveyor found the ordinary office building witthout much trouble according to the regulation address.

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The surveyor could not wait to enter the lobby and found a floor directory on which there were many companies’ names. The surveyor failed to find the broker’s name on the directory after careful search.

The surveyor was unwilling to stop inspection so he went to 2F to have a look. Once arriving at 2F, the surveyor saw a new floor directory at first. The surveyor read the directory carefully and failed to find the location of the broker’s office. 

The surveyor then went to the room indicated by the regulation information and found the door was locked. The surveyor found a notice on the door and knew from it that the room was for lease. The New Zealand licensed broker Golden Grand Global didn’t have an office there.

Conclusion

It was confirmed after the surveyor’s inspection that the New Zealand licensed broker Golden Grand Global’s real address was different from its regulation address. Although the broker was a licensed broker, the broker’ss  financial services company license(RN: 371806) issued by FSPR was cancelled since the broker went beyond its business scope.