Recently, investors expressed their hopes for exposing of more Australian brokers, whose real addresses are inconsistent with the ones in their regulatory information. Given that, the investigators went to Australia for a direct look at CMG.
CMG’s office address in the regulatory information is 10 90 Arthur Street North Sydney NSW 2060. The investigators carried out a field survey to this licensed broker.
The survey staff successfully found this building, which is characterized by old designs. As the office number of this building is very conspicuous, it is easy for the staff to find it.
The investigators couldn't wait to walk into the office building, but found no information on CMG on the floor signboard in the ground floor lobby. Since that couldn’t prove the broker’s address was fake, they took the elevator to the 10th floor for a further confirmation. After walking around the 10th floor, they found neither the broker’s logo nor its office.
The investigators, based on the result of this field survey, confirmed that CMG’s real address failed to match with the one in its regulatory information. Besides, the broker’s Australian Financial Services Representative license (license number: 001256635) issued by Australia Securities & Investment Commission has been revoked.Investors can take the broker into consideration.
2-5 years | Regulated in Australia | Suspicious Regulatory License | <…
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