Inspection Reason

Recently, many investors called the inspection team, expressing their hope for  the inspection team exposing New Zealand’s brokers, whose real addresses are inconsistent with the ones in their regulatory information. Given that, the investigators went to ODM in New Zealand for a closer look.

Company Building

ODM’s office address in the regulatory information is Ecs Limited Level 10, 21 Queen Street Auckland. The investigators carried out a field trip to this licensed broker.                                        

The investigators have successfully found the company building indicated by the regulatory information. New Zealand Stock Exchange runs businesses in this relatively high-end building.

Featured Photos

Subsequently, they entered the building and took the elevator to the 10th floor. They found that the 10th floor belonged to an office leasing company named REGUS.

It is reported that as a company that leases office space, REGUS provides its own address to some companies that do not run businesses in this office as a mail address. Later, the survey personnel asked the reception worker whether ODM was on the 10th floor. The worker checked the history records and informed the personnel that no information about company was found.

Inspection Conclusion

The investigators, based on the result of the field trip, confirmed that ODM’s real address failed to match with the one in its regulatory information. Its financial service provider license issued by Financial Service Providers Register has been canceled.