ASIC suspends license of Longhou Capital Markets for three months

Maria Nikolova

The suspension follows the appointment of Christopher Darin, of Worrells Solvency & Forensic Accountants, as voluntary administrator.

The Australian Securities & Investments Commission (ASIC) today announces a three-month suspension of the Australian financial services (AFS) licence of Longhou Capital Markets Pty Ltd. The suspension of the license of the Queensland-based financial services provider is set to expire on June 12, 2020.

The suspension follows the appointment of Christopher Darin, of Worrells Solvency & Forensic Accountants, as voluntary administrator on February 28, 2020, the regulator explains.

As of March 13, 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.

Longhou Capital Markets is the holder of AFS licence no. 292464, which it has held since November 17, 2005.

Before April 15, 2016, the company operated under other names. The company was known as Avestra Capital Pty Ltd from October 15, 2008 and as AG Capital Markets Pty Ltd from March 13, 2015.

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