The Cyprus Securities and Exchange Commission (CySEC) today announces that at its meeting held on March 28, 2016, it decided to revoke the Cyprus Investment Firm (CIF) license of Falcon Brokers Ltd.
The withdrawal of the license stems from violation of operational requirements concerning clients’ funds.
The company, operating via new.falconbrokers.com, has three months to settle all obligations arising from offering investment and ancillary services. The company also has to edit its website and any other websites to make sure that any references to it being licensed or supervise by CySEC are removed.
The CIF license of Falcon Brokers was initially suspended on September 24, 2015, on grounds of violations operational requirements related to clients’ funds. The suspension was extended two times, before the securities regulator reached its final decision.
You can view the full announcement from CySEC by clicking here.