
The corporate regulator has suspended the Australian Financial Services Licence of a Queensland-based financial services provider for three months.
In a statement, ASIC said it had suspended the licence of Longhou Capital Markets for a period of three months expiring 12 June 2020.
The suspension follows the appointment of a voluntary administrator to the business in February.
As of 13 March, ASIC said Longhou had 18 authorised representatives that were licensed to provide advice and dealing services in relation to a range of financial products including securities and derivatives.
The group had held its licence since November 2005 and was previously known as Avestra Capital from October 2008 and AG Capital Markets from March 2015.
A Greens senator who was a key agitator for the royal commission has defended his reasoning in pushing for the inquiry, but conceded that it’s not c...
APRA’s sweeping changes to income protection policies are set to force more claimants back to work sooner, as the life insurance industry faces more...
The latest enforcement update from ASIC has noted that court cases brought by the regulator in the six months to December last year under its 'why not...