FCA issues warning against Falcon Financial Solutions and Thestral Financial Services

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="FCA warning" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/07/Mind-the-Gap-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>The FCA expressed concerns that Falcon and Thestral may also be offering investments and customers that invest with them could lose their money.</p>
<p>The warning stated:</p>
<blockquote><p>We believe these firms may be part of a network of credit brokers/payment services firms that are offering investments to consumers which may not be protected.</p></blockquote>
<p>Additionally, the regulator noted that neither Falcon nor Thestral have permission to provide regulated investment services by the FCA. The firms also did not disclose any connection to Cavendish when they applied to the FCA.</p>
<p>The Authority also highlighted that they have attempted to speak to the firms to understand their connection to Cavendish and other firms, but they have not received a response.</p>
<h2>New FCA rules</h2>
<p>The FCA recently strengthened the rules on <a target="_blank" href="https://www.leaprate.com/forex/regulations/fca-strengthens-rules-on-promotion-of-high-risk-financial-products/" rel="noopener">promoting high-risk financial products</a>, including crypto. Additionally, the UK government announced that it will bring crypto ads <a target="_blank" href="https://www.leaprate.com/cryptocurrency/regulation-cryptocurrency/uk-government-to-tighten-rules-on-misleading-crypto-ads/" rel="noopener">under the FCA’s remit</a>. When that happens, the financial markets regulator intends to categorise qualifying cryptoassets as ‘Restricted Mass Market Investments’.</p>
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