No No No. The mudguard mounts fits on the OUTSIDE of the brake swivel clamp, fitting it on the inside closest to the fork leg will mean the caliper sits at an angle to the disc, this means only the edge of the pad is pressed against the disc, meaning you'll have spongy brakes and crap brakes until the pad wears down at an angle.
I've been a Honda mechanic for over 30 year and the CB500 and CB550 are my speciality, I've got 2 500 and 2 550s, all of them have the mudguard bracket on the outside.