Inspection Reason

Some investors called the inspection team to express their hope for more exposure of New Zealand licensed brokers whose real addresses were different from regulation address. In response to investors’ demand, the surveyor went to BHC’s office in New Zealand.

Office Building

According to the regulation information, the New Zealand licensed broker was located at ESuiTe C3 Level 2, 99 Queen STreeT Auckland CenTral Auckland. The surveyor decided to visit the broker. 

Featured Photos

The surveyor found the office buildings indicated by the regulation information without much trouble. The shabby building’s environment wasn’t bad. After entered the lobby at 1F the surveyor found no information about BHC on the floor directory.

The surveyor then took the elevator to 2F and found the light in the elevator flashing. After arriving at 2F, the surveyor found there was no information on the directory.

To ensure inspection quality, the surveyor went to the door of Suite C3 and knocked the door, but no one answered. Suite C3 was likely to be empty for a long time.

Conclusion

The inauthenticity of BHC’s regulation address was confirmed after the surveyor’s inspection. BHC’s AR license (RN: 788056) issued by FCA has been cancelled.As was shown by BHC’s two ordinary financial licenses issued by NFA (RN: 0507263) and IFSC (RN:IFSC/60/490/BCA/16) respectively,  BHC’ went beyond its business scope.It should be noted that its license issued by IFSC has been canceled by now.Moreover, BHC’s financial services company license (RN: 355086) issued by FSPR has been canceled, too. The license showed that the broker went beyond its business scope.