Falcon Brokers Looses Licenses Inward Uk, Germany & Cyprus; One-Time Clients To Assay Restitution From Investor Compensation Fund Inward Cyprus

The Board of of the CySEC issued a liberate today for existing clients of Falcon Brokers Ltd, informing them that Falcon Brokers lost its Republic of Cyprus Investment Firm (CIF) potency inwards March of this twelvemonth for not complying alongside department 28(1) of the Investment Services as well as Activities as well as Regulated Markets Law of 2007.

Under existing fiscal regulations inwards Cyprus, firms that lose their license are required yesteryear police to air current downwards all operations as well as refund all client funds inside 3 months.

However, the CySEC said that Falcon Brokers has non followed physical care for as well as existing clients volition straight off produce got to seek restitution from the Investor Compensation Fund (ICF). The regulator likewise mentioned that Falcon Brokers has non responded to CySEC inquires since March:

“The CySEC has non been able to communicate alongside the Company from the appointment of the withdrawal of its authorization, equally the Company’s contact number seems to hold upwards disconnected.“

While the Falcon Brokers' holler upwards number has been disconnected, their website is even as well as then upwards (new.falconbrokers.com) as well as it would seem that the theater is even as well as then signing upwards novel clients through a dissimilar sub-domain (sys.falconbrokers.com), which has a dissimilar telephone number. Additionally, Falcon Brokers claims on their webpage they are even as well as then regulated yesteryear the Great Britain Financial Conduct Authority (FCA) as well as the High German Federal Financial Supervisory Authority (BaFin).

However, upon checking the registration numbers provided yesteryear Falcon Brokers alongside both fiscal regulators, a dissimilar storey begins to surface. The FCA registry says that Falcon Brokers was previously authorized (Reg. No. 565054) exactly is no longer allowed to deport trouble organisation inwards the UK:

Querying the BaFin registry alongside ID number 125737 - the number provided on the Falcon Brokers homepage for BaFin - does non fifty-fifty render whatever results related to Falcon Brokers Ltd. At press time, it doesn't seem that Falcon Brokers is regulated yesteryear the FCA or BaFin.

The CySEC has directed old Falcon Brokers clients inwards Republic of Cyprus to commencement familiarizing themselves alongside the claims physical care for as well as the necessary paperwork:

“All affected clients (covered clients of the Company) are invited to report the I.C.F. Directive equally good equally the information for the submission of compensation applications constitute on the CySEC’s website as well as produce got all appropriate actions for the submission of their claims.”