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Email: Legal@esma.europa.eu, BUL@esma.europa.

eu

Object: CySEC/ IronFx Global Ltd. case must be reopened

Respected European Securities and Markets Authority,

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.

((please select ONLY ONE of following continuations, according to your case))


My case

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

((name, address, signature))


My case

I have been complaining to the competent Cypriot authorities.

In particular, I filed a complaint to The Financial Ombudsman of Cyprus (ref. no.


…………………………., dated )

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

1. The ADR directive does not specify a binding 4-month deadline.


2. The deadline was not expired, because IronFx was mandated to answer all complaints
after the CySEC fine dated 27.11.2015. As most complainants did, I also received the "final
response" by IronFx on 16.01.2016.
3. According to the Announcement that was posted on the website of Cyprus Securities and
Exchange Commission and is still visible on it, the Financial Ombudsman Service for clients
of IF became operative on 22.10.2015. It was from this date that clients of the IF were invited
to file their claims to the Financial Ombudsman Service. So I could have not filed my claim
before the 22.10.2015.

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

I have been complaining to the competent Cypriot authorities.

In particular, I filed a complaint to The Financial Ombudsman of Cyprus (ref. no.


…………………………., dated )

Latter complaint was processed by the Financial Ombudsman and I received a Decision on
……………. (see Attachment).

The Decision of the Financial Ombudsman rejected my complaint.

But the rejection 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.

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.

Please find enclosed my Opposition to the decision.

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

I have been complaining to the competent Cypriot authorities.

In particular, I filed a complaint to The Financial Ombudsman of Cyprus (ref. no.


…………………………., dated )

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))