Australian watchdog ASIC has announced yesterday that it has extended the suspension of the Australian financial services (AFS) licence held by Halifax Investment Services Pty Ltd until 8 January 2021, effective 18 December 2019.
The Halifax AFS licence can continue 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.
The licence will also allow the termination of existing arrangements with clients of Halifax.
Halifax was a financial services licensee headquartered in Sydney with a partially-owned subsidiary in Auckland, New Zealand.