ASIC Suspends AFS Licence of Longhou Capital Markets Pty Ltd

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.