ASIC has extended the suspension of the Australian financial services (AFS) license held by Halifax Investment Services Pty Ltd (Halifax) until 8 January 2021.

As we previously reported, on the 14th of January 2019, ASIC has suspended the Australian financial services (AFS) license held by Halifax Investment Services Pty Ltd. Back then it was suspended for a year until January 10, 2020. This followed the appointment of Morgan Kelly, Stewart McCallum and Phil Quinlan, of Ferrier Hodgson as joint voluntary administrators of Halifax on 23 November 2018. 

According to the official statement, the terms of the suspension allow the Halifax AFS license to continue in effect for the following purposes only to ensure that clients of Halifax continue to have access to an external dispute resolution scheme and that Halifax continues to be required to have arrangements for compensating retail clients, including the holding of professional indemnity insurance cover. Also, it allows the termination of existing arrangements with clients of Halifax.

Halifax Investment Services Pty Ltd (Halifax), was a financial services licensee headquartered in Sydney with a partially-owned subsidiary in Auckland, New Zealand. It has been providing various financial products in a range of asset classes, including stocks, options, futures, foreign exchange, and contracts for difference; and trade finance and currency exchange services.

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