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eu
I am hereby requesting the re-opening on my complaint against the Cyprus Securities and
Exchange Commission (CySEC) for not taking action against the investment firm IronFx
Global Ltd.
I also refer to the complaint 618/2017/CEC to the European Ombudsman against ESMA in
the same matter
REASONS
I am a damaged client. IronFx has been withholding my funds of EUR ………… since ……
Cyprus authorities, in particular the CySEC, do not process complaints against investment
firms and/or do not have complaint handling procedures which comply with EU rules.
I have been complaining to the competent Cypriot authorities, but they did not process my
complaint.
In particular, the Financial Ombudsman of Cyprus did not process my complaint, that I filed
…. months ago (ref. no. …………………….. )
It is evident that the complaint handling by Cypriot authorities is not aimed to grant consumer
protection, but to grant impunity to insolvent companies as long as possible.
According to the Annual Report 2015 of Cyprus General Auditor, that you should have
examined so far, IronFx Global Ltd. is in breach of Regulation 575/2013 (CRR Regulation) on
Capital Adequacy.
I request you to start a formal investigation against the CySEC without any further delay.
Best regards
Latter complaint was rejected by the Financial Ombudsman with Letter of Termination dated
……………. (see Attachment).
This Termination, which was notified to me after ………. months, does not comply with EU
legislation, because
It is evident that the complaint handling by Cypriot authorities is not aimed to grant consumer
protection, but to grant impunity to insolvent companies as long as possible.
According to the Annual Report 2015 of Cyprus General Auditor, that you should have
examined so far, IronFx Global Ltd. is in breach of Regulation 575/2013 (CRR Regulation) on
Capital Adequacy.
I request you to start a formal investigation against the CySEC without any further delay.
Best regards
((name, address, signature))
My case
Latter complaint was processed by the Financial Ombudsman and I received a Decision on
……………. (see Attachment).
In particular, I was accused to have "traded from the same IP address of other abusive
traders", without evidence and without any details of the alleged IP address.
By the way, "trading with the same IP address" is a technical nonsense, since retail traders
are assigned not a static, but a dynamic IP address, which changes every 24 hours.
It is evident that the complaint handling by Cypriot authorities is not aimed to grant consumer
protection, but to grant impunity to insolvent companies as long as possible.
According to the Annual Report 2015 of Cyprus General Auditor, that you should have
examined so far, IronFx Global Ltd. is in breach of Regulation 575/2013 (CRR Regulation) on
Capital Adequacy.
I request you to start a formal investigation against the CySEC without any further delay.
Best regards
((name, address, signature))
My case
Latter complaint was processed by the Financial Ombudsman and I received a Decision on
……………. (see Attachment).
The Decision of the Financial Ombudsman partly recognized my complaint, by stating that I
am to be reimbursed the amount of my deposited capital.
(By the way, the rejection of my profit was based on pure allegations. In particular, I was
accused to have "traded from the same IP address of other abusive traders", without
evidence and without any details of the alleged IP address.)
But IronFx has refused to acknowledge the Decision of the Financial Ombudsman and has
not yet paid the amount which I have to be reimbursed.
The Decision is dated …………. and I am still waiting for the payment.
It is evident that the complaint handling by Cypriot authorities is not aimed to grant consumer
protection, but to grant impunity to insolvent companies as long as possible.
According to the Annual Report 2015 of Cyprus General Auditor, that you should have
examined so far, IronFx Global Ltd. is in breach of Regulation 575/2013 (CRR Regulation) on
Capital Adequacy.
I request you to start a formal investigation against the CySEC without any further delay.
Best regards
((name, address, signature))