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Briefs: ASIC banks mortgage broker, AG Financial capital markets subsidiary

The Australian Securities and Investment Commission has banned mortgage broker Angie Skouras from engaging in credit activities and cancelled the Australia credit licence of his company, Global Edge Finance Group. Global Edge failed to lodge annual compliance certificates, it was not a member of an approved external dispute resolution scheme and it failed to comply with determinations of the Credit and Investments Ombudsman. Investment manager and stockbroker AG Financial has entered into a share sale deed to sell its subsidiary AG Capital Markets to Longhou Investment Group. Longhou will pay $1 million for the business. AG Financial acquired AG Capital Markets (formerly Avestra Capital) in September 2014.

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