Clients of Falcon Brokers Entitled to Investor Compensation from CySEC

[kreslik.news]

The Cyprus Securities and Exchange commission has issued an announcement inviting clients of the failed brokerage company Falcon Brokers, which was regulated on the island until March 2016, to submit their compensation applications.

Clients of brokerages that are put into liquidation are entitled to compensation of up to €20,000 of their account values. The Investor Compensation Fund (ICF) that has been set up under the local legislation is collecting contributions from regulated brokerages that are used to fund the compensations.

The CySEC has triggered the application of the ICF disbursement because six months after the revoking of the license of Falcon Brokers, ... (read more)