Inspection Reason

The inspection team continued its survey campaign as part of its efforts to check the authenticity condition within the industry. For this session, the inspection team went to Australia to visit a broker named BGP. 

Office

According to its registered address, BGP has its head office at Level 10, 379 Collins Street, Melbourne. The inspection team  went there for a visit. 

As the house number of the building indicated by the given address was very eye-catching, the surveyor had no trouble finding this modern office building.

By coincidence, the surveyors saw the building’s house number sign again in a corner of the building.

Survey Highlights

The surveyors then entered the office building from the main entrance and checked the floor guide in the lobby of the ground floor. This guide did not show any information about BGP. To double-check, the survey staff still took the trouble to go to Level 10 as was indicated by the company’s purported address and, on a company sign in the corridor there, it was another no-show. 

The surveyors then walked around on the Tenth Floor without seeing either the company’s logo or its office, regrettably ending the tour.

Conclusion

A field survey did not find BGP’s physical premises at the place where the company purports to be operaing from. The company claims to hold a full license (290108) from the ASIC, but a check with the regulator shows that the claim could be untrue, as these licensing and registration details belong to another entity.