Licensee cops three-month suspension

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.