Securities and Exchange Commission, SEC, has lifted the three – year suspension slammed on Falcon Securities and its sponsored individuals over failure to respond to issues regarding the filing of its quarterly reports with the Commission
SEC in a statement notified the investing public that the suspension placed on Falcon Securities Ltd and its sponsored individuals from all capital market activities since June 2013 has been lifted.
The suspension was as a result of the company’s failure to respond to issues regarding the filing of its quarterly reports with the Commission such as Failure to attach the company’s schedule of investments marked to market and failure to report its investments in quoted securities at market value; Reporting a false and misleading financial status of the company in its 2012 annual report and Complete erosion of the company’s shareholders’ funds as shown in its returns for the period ended December 31, 2012.
The SEC said the lifting of the suspension effective from June 10, 2016 followed the firm’s resolving of all issues that led to its suspension as well as compliance with the Commission’s directives.


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