Inspection Reason

Recently, many investors made telephone calls to the inspection team, expressing their hope for the inspection team to expose more Australia licensed brokers whose actual addresses are inconsistent with that recorded by the regulatory authority. Upon the investors’ request, the inspection personnel decided to visit the Australia licensed broker MILLIMANFX to get more first-hand information.

Office

According to the regulation information, the address of the Australian licensed company MILLIMANFX is: Level 5, 32 Walker Street, North Sydney NSW 2060. The inspection personnel went to the place.

The inspection personnel arrived at a quite old building as guided by the regulation information. 

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The inspection personnel entered the building and found from the floor guide that Level 5 as indicated by the regulation information is the floor where Miliman capital’s office is located, instead of MILLIMANFX’s. 

To rule out the possibility that information on the floor guide may be not updated, the inspection personnel took the evelvator to Level 5 and found the entire floor is occupied by the broker Miliman capital. 

Conclusion

It is confirmed after the inspection personnel’s field survey that the real address of the licensed broker MILLIMANFX’s office in Australia is not consistent with the regulation address. The broker’s investment consulting license (RN: 340679) issued by ASIC is suspected of being cloned. The broker is under no valid regulation at present.