ASIC has suspended the Australian financial services (AFS) licence of Longhou Capital Markets Pty Ltd (Longhou), a Queensland-based financial services provider, for a period of three months, expiring 12 June 2020.
The suspension follows the appointment of Christopher Darin, of Worrells Solvency & Forensic Accountants, as voluntary administrator on 28 February 2020. For further information about the administration and what this means for interested parties, please refer to http://www.worrells.net.au.
As of 13 March 2020, Longhou had 18 authorised representatives providing financial services on its behalf. These authorised representatives were able to provide advice and dealing services in relation to a range of financial products, including securities and derivatives.
The suspension of Longhou's licence means that these authorised representatives must immediately cease providing financial services on Longhou's behalf.
Background
Longhou is the holder of AFS licence no. 292464, which it has held since 17 November 2005.
Prior to 15 April 2016, Longhou was previously known as Avestra Capital Pty Ltd from 15 October 2008 and as AG Capital Markets Pty Ltd from 13 March 2015.
