CySEC announces ICF membership withdrawal of four investment firms
The Cyprus Securities and Exchange Commission (CySEC) today announced that the Investors Compensation Fund (ICF) has withdrawn the membership of four investment firms.
The withdrawal is pursuant to paragraph 6 of CySEC’s Directive DI87-07 for the Operation of the Investors Compensation Fund.
The affected investment firms are:
- IFCM Cyprus Ltd,
- Arumpro Capital Ltd,
- Greenpost Trading Europe Ltd
- Reliantco Investments Ltd.
It is noted that, in accordance with paragraph 6(3) of the Directive, the loss of ICF membership status does not mean loss of rights of covered clients to receive compensation in relation to investment operations carried out until the loss of membership status, if the conditions for compensation are fulfilled pursuant to the Directive, nor does it obstruct the initiation of the compensation procedure for covered clients.
The withdrawal of the ICF membership was carried out after CySEC’s decision to withdraw the Cyprus Investment Firm (CIF) authorisation of IFCM Cyprus Ltd, Arumpro Capital Ltd, Greenpost Trading Europe Ltd and Reliantco Investments Ltd.
