Inspection Reason

Recently, the inspection team received many phone calls from investors who expressed their hope of more exposure of Australian brokers whose real addresses are inconsistent with those from regulatory information. In order to help investors identify fraudulent brokers, our inspection staff went on a field trip to the Australia office of MHF.

Company Building

According to regulatory information, the address of MHF is Level 2 Professional Chambers, Collins Street Melbourne VIC 3000. The inspectors set out for the premises.

The inspectors easily found the building, which looks quite ordinary, thanks to the visible street number.

Featured Photo

Upon entering the lobby, the inspection staff found the reception area surprisingly spacious and magnificent. According to the floor guide, MHF’s office is located inside the glazed building just opposite the reception.The investigators walked into it, came to the second floor and checked the floor guide next to the elevator, which said this floor houses the office of MHF.

Having walked around the floor, the investigators still couldn’t find neither the broker’s logo nor its office. So they came downstairs and asked the security guard about whether MHF has moved elsewhere. However, the guard had no idea at all.

Inspection Conclusion

The field survey verified that MHF’s real address is inconsistent with that from regulatory information. The broker’s Financial Adviser license (license number: 277933) issued by the Australian Securities and Investments Commission (ASIC) is suspected to be a cloned one.