Inspection Reason

Investors made telephone calls to the inspection team asking for more exposure of New Zealand licensed brokers whose real addresses were different from their regulation addresses. In response to investors’ need, the surveyor visited Skyline in New Zealand.

Office Building

According to the regulation information, the New Zealand licensed broker was located at Ecs Limited Level 10, 21 Queen Street Auckland. The surveyor decided to visit the broker.

The surveyor found the office building indicated by the regulation information without much trouble. New Zealand Stock Exchange had offices in the high-end building.

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The surveyor entered the building and found that the entire floor belonged to an office lease company named REGUS after arriving at the 10th floor.

As a company leasing cubicles, REGUS would give its address to companies having no offices here as their mail address. The surveyor then asked a receptionist whether Skyline had an office here or not. The receptionist checked the record and replied that Skyline’s information hasn’t been found.

Conclusion

It was confirmed after the surveyor’s inspection that the real address of Skyline in New Zealand was different from its regulation address. Since Skyline’s financial services company license issued by FSPR has been cancelled.