Pursuant to the provisions of paragraph 24 of Directive DI144-2007-15 of 2015 and further to a relevant decision of the Cyprus Securities and Exchange Commission (‘CySEC’), as per its announcement of 31/10/2016, the Investor Compensation Fund for IF Clients (‘ICF’) announces the commencement of the compensation payment process by the ICF to the covered clients of Falcon Brokers Ltd (‘the Company’). The address of the Company, whose authorisation has been suspended since April 2014, was 41 Kolonakiou Avenue, Nouris Building, Limassol, Cyprus.
Covered clients must submit their claims against the Company, if any, arising out of the covered services, by 30 April 2017.
Applications to the ICF may be submitted in one of the following two ways:
a) By filling in the online application form which can be found on the CySEC website https://www.cysec.gov.cy/en-GB/complaints/tae/application/
b) By submitting a simple letter to the offices of the ICF, accompanied by all supporting evidence: The letter/application may be sent by post or be delivered by hand to: The Investor Compensation Fund for IF Clients, 27 Diagorou Str., 2 nd floor,1097 Nicosia, Cyprus.
Applications for compensation must include at least the following information:
- Particulars of the claimant (name, address, Identity Card / Passport No., telephone and fax numbers and email address).
- The name of the ICF member against which the application is submitted and the client code and/or the claimant’s investment account No.
- Copy of the covered services agreement between the ICF member and the claimant.
- The type and amount of alleged claims by the claimant.
- Copy of the latest statement of account from the transactions platform used by the ICF member.
- Copy of the latest statement of deposits and withdrawals from the account held by the claimant with the ICF member.
- Copies of documents proving the deposits of monies by the claimant to the ICF member (e.g. money transfer orders, deposit orders, debit notes, etc.)
- Description of the facts and evidence giving rise to the alleged claims by the claimant and the amount of such claims with specific references to actions or omissions of the ICF member.
- Any other evidence or supporting documents to demonstrate that the claimant is entitled to apply for compensation.
- Reference and copies of any correspondence with the ICF member concerned.
Written statement that all the evidence/information contained in the application/letter as well as all accompanying documents are correct, complete and accurate.
The ICF reserves the right to request additional evidence from claimants. Before submitting an application to the ICF, all parties concerned (covered clients of the Company) are invited to study the relevant provisions of the Investment Services and Activities and Regulated Markets Law of 2007, the ICF Directive, as well as the information on the submission of applications for payment of compensation posted on the CySEC website and take all necessary actions to submit their claims.
The existence of a valid claim by the claimant is an essential requirement for receiving the compensation