SEC Lifts Three-year Suspension on Falcon Securities

The Securities and Exchange Commission, SEC, has lifted the three-year suspension it placed on Falcon Securities Limited and its sponsored individuals in June, 2013.

The Exchange Commission, in a statement on its website, said the suspension was lifted because the firm has resolved all issues that led to its suspension and has complied with the Commission’s directives.

SEC had suspended of Falcon Securities Limited and its sponsored individuals from all capital market activities as an enforcement action for failing to respond to issues regarding the filing of its quarterly reports with the Commission.

The company was suspended for failing to attach the company’s schedule of investments marked to market and failure to report its investments in quoted securities at market value.

Also, the company was found guilty of reporting a false and misleading financial status of its 2012 annual reports, as well as complete erosion of the company’s shareholders’ funds as shown in its returns for the period ended December 31, 2012.