Inspection Reason

Some investors made phone call to the inspection team for more information of New Zealand licensed brokers whose real address were not the same with its regulation address. In response to investors’ strong need, the survey personal went to Xin Fu in New Zealand to know more about it.

Office

According to the regulation information, the New Zealand licensed broker Xin Fu is located at Level 1, 290 Queen ST Auckland Cbd. The survey personal then visited this place.

According to the navigation, the survey personnel has easily found the office building indicated by the regulatory information. Although not particularly high-end, this office building is ideally located in the bustling downtown area.

Selected Photos

Afterwards, the survey personnel entered the building. They carefully checked the floor guides in the lobby on the first floor, then took the elevator to the 4th floor. They carefully checked the company logo on the 4th floor corridor and found no information about Xin Fu.

The survey personnel came to the office indicated by the regulatory information and found that the office indicated by the regulatory information belongs to the ETS Group, not the Xin Fu.

Conclusion

After the on-site survey, it was confirmed that the actual address of the New Zealand licensed dealer Xin Fu was inconsistent with the regulatory address. It is confirmed their future license APX230 issued by SFC is a clone license. And their general fiancé license 0508963 issued by NFC and a financial service license 536487 issued by FSP are all suspected of being clones.