Inspection Reason

Recently, many investors called the inspection team, expressing their hope for  the inspection team exposing New Zealand’s brokers, whose real addresses are inconsistent with the ones in their regulatory information. Given that, the survey team assigned the investigators to New Zealand for a direct look at TP FinTech.

Company Building

FinTech’s office address in the regulatory information is 42 Sohlue Place Oteha Auckland. The investigators carried out a field trip to this licensed broker.                                                                                                                                                          

The survey personnel found painstakingly the company building indicated by the supervision information, which was actually a residential building with no sign of the company.

In order to ensure that the survey results were correct, the personnel rang the doorbell, and then a Chinese came out to answer the door. The survey personnel asked the Chinese if he had heard of TP FinTech, but he said he had no idea about it.

Inspection Conclusion

The investigators, based on the result of the field trip, confirmed that TP FinTech’s real address failed to match with the one in its regulatory information. Its financial service provider license (regulatory number: 562026) issued by Financial Service Providers Register is suspected to be a clone one.