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PRO Uncut: The full interview with Phil Falcone

Former hedge fund manager Phil Falcone joined CNBC for an exclusive interview to talk about his new business venture, HC2 holdings.

In a candid conversation, Falcone discussed at length his plans for a comeback after being barred from the securities industry for five years following an $18 million settlement with the SEC on charges of misappropriation of funds and improper conduct.

"I don't want to say it was a mistake, but it was an unfortunate circumstance that took place, and if I had to do it all over again, sure I would do things differently," Falcone said. But he insisted: "I didn't commit fraud. I didn't violate securities laws."

In his new endeavor, Falcone aims to acquire companies in a range of industries, a role similar to the one at his previous hedge fund, Harbinger Group.

You can watch Falcone's interview with CNBC's Andrew Ross Sorkin below in its entirety, but you must be a CNBC Pro subscriber.