LICENCE OF AUSTRALIAN FUTURES TRADER SUSPENDED
The Victorian Corporate Affairs
Commission, CAC, said it had suspended the futures trading
licence of G H Shintoh (Australia) Ltd after a receiver was
appointed to the company's South Australian branch.
    The one month suspension followed consultation with the
Sydney Futures Exchange, SFE, which was liaising with Shintoh
concerning the open positions of its clients, the CAC said.
    The South Australian CAC had applied for the appointment of
a receiver and manager over the Adelaide office of Shintoh, an
associate member of the SFE, the CAC said.
    Shintoh's is the first licence suspended under a Futures
Industry Code introduced by Australian states from July 1,
1986, SFE chief executive Les Hosking told Reuters.
    Asiavest Pty Ltd, a commodities futures trader associated
with Shintoh and incorporated in Queensland, was placed in
receivership earlier this year, he said.
 Reuter
