Beware: Concorde Kapital FX license is withdrawn

19 March, AtoZForex, Lagos – The National Bank of Ukraine (NBU) has announced the withdrawal of the general license of Concorde Kapital LLC. The Ukrainian central bank made the announcement on its website, clarifying that Concorde Kapital LLC will no longer be authorized to carry out currency transactions.

The central bank’s order stated that “according to the order of the National Bank of Ukraine of 15.03.2016 number 114, the general license of 18.12.2007 number 25 on the implementation of the limited liability company "Concord Capital" currency transactions withdrawn.”

Reason for license withdrawal

As Concorde Kapital FX license was withdrawn, it was clarified to Interfax-Ukraine that the license holder initiated the withdrawal of the license. Concorde Kapital FX license revocation got requested by the broker, as Concorde Kapital has no intentions to continue carrying out the functions under which the license was issued in the first place. However, it is also worthy of note that the company now seeks to carry out these operations via Concord Capital Group.

"Concorde Kapital filed an application asking to revoke its general license for carrying out currency transactions on February 15, 2016. The company does not plan to carry out currency transactions in the future. Another license holder – Concorde Capital LLC – will carry out these transactions," according to Interfax-Ukraine.

See also: Concorde Forex Clone unmasked

About Concorde Kapital

Concorde Capital is a Ukrainian based investment company, vested in providing a full range of brokerage, investment banking and asset management services, founded in 2004. The firm attracted more than USD 2 billion for leading Ukrainian companies via IPOs and private placements since 2004 in the metallurgy, automobile, chemical, oil & gas, agricultural, real estate and pharmaceutical sectors. Concorde Capital led by number of merger and acquisitions () transactions in Ukraine among local and global firms in 2007-2008, and by number of M&A deals in the CIS financial market in 2007, according to merger market and DealWatch.

Thomson Reuters Extel Surveys rated Concorde Capital the highest Ukraine-based Pan-European brokerage firm in European Emerging Markets in 2009 and 2012 and consistently ranked Concorde Capital’s research department among the top three in Ukraine in 2007-2012.

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