Survey Reason

Recently, there are many investors’ phone calls with the hope of more Australia licensed brokers whose addresses were inconsistent with those declared by the supervision agency exposed more frequently. Upon their requests, our investigation staff decided to leave for PGWG’s Australia office for more first-hand information.

Company Building

According to the regulatory information, the address of the Australia licensed company MT was Level 20, 201 Sussex Street, Sydney NSW 2000. The investigation staff visited the spot.

According to the regulatory information, they successfully found the office building consisting of three towers.

Exclusive

They entered Tower 2 through the front door and learned from the electronic screen in the lobby of the ground floor that it was the shared office of Regus rather than PGWG on the floor as the regulatory information showed.

To prove whether PGWG set an office area in the shared office, they came to the 20th floor by elevator. Getting out of the elevator, they immediately noticed many companies’ signage. However, they didn’t find PGWG after scrutinizing. They enquired the receptionist of the shared office and further confirmed that there was no office of the broker in the building at all. 

Summary

As confirmed by the surveyors' field survey, the Austalia licensed broker PGWG's real address is different from its regulatory address. Since the broker's investment advisory license ( Regulatory No: 305908) issued by ASIC and financial services company license ( Regulatory No: 555326) said the broker operated beyond its licensed business scope. In addition, the broker's  financial services company license has been cancelled. Therefore please beware of the broker and pay attenton to money safety.