Inspection Reason

Recently, many investors made telephone calls  the hope of more exposure of Australian brokers’ inconsistent addresses with those stated in regulatory information. In response, the inspection staff paid a site visit to the office of GPAC, a licensed Australian broker.

Company Building

According to regulatory information, GPAC is located at Andrew Greenslade,  Level 6, 146 Arthur Street North Sydney NSW 2060. The inspectors set out for this address.

The inspection team found easily the old office building thanks to the quite visible street number.

Featured Photo

Upon entering the building, the inspectors checked the floor guide on which there was no information about GPAC at all. Then they came to the 6th floor by  elevator. Following a search of the entire floor, the broker’s logo and office were still not found. Instead, there was the office of a financing group.

Inspection Conclusion

As verified by the field survey, GPAC’s real address is inconsistent with that from regulatory information. As the broker’s investment advisory license (license number: 308279) issued by the Australian Securities and Investments Commission shows the company’s failure to operate in line with its scope of business.