Inspection Reason

Some investors made phone calls to the inspection team for more information of Australia licensed brokers whose real address were not the same with its regulation address. In response to investors’ strong need, the inspection personnel went to K-ross in Australia to know more about it.

Office

According to the regulatory information, the Australia licensed broker K-ross is located at Level 36, 1 Farrer Place Sydney NSW 2000. The inspection personel then visited this place.

The inspection personnel successfully found the large-scale modern office building at the junction of Young St and Bent St as indicated by the regulatory information.

Then, the personnel entered the building. After checking the floor guide, we knew that K-ross is not working in the building. In order the ensure the result, the personnel took the elevator to the 36th floor. Looking around, nothing about the broker was found.

Conclusion

The visit by the inspection personnel confirmed that the broker K-ross’ real address was inconsistent with its regulatory address. The MM license issued by ASIC (reference number 316880) claimed by this broker is suspected to be a clone.