Inspection Reason

The inspection team continued its field survey campaign as part of the efforts to inspect the integrity condition within the forex brokerage industry. For this session, the inspection team went to Australia to visit a broker named KP. 

Office 

According to the address it provided, the Australia broker KP has its head office at Level 13, 135 King Street, SYDNEY. The inspection team sent its survey team there for a field investigation. 

According to the address, the surveyors found this building adjacent to an H&M clothing shop.  

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The survey staff entered the building and learned from a floor directory sign  that the 13th Floor was home to REGUS, an office sharing company. They then took an elevator to that floor and, after questioning the reception staff there, learned that KP had signed an agreement with it to rent offices, but was not currently here.

Conclusion

A field survey to the address where it claims to be located did not find KP’s physical presence. The broker claims to hold a general financial license from the Australia ASIC (334191).