The Cyprus Securities and Exchange Commission (CySEC) announced today that the Investors Compensation Fund (ICF) has withdrawn the ICF membership of the following members:

• BrightPool Ltd (LEI 2138007MC4C34J892J46),
• VPR Safe Financial Group Ltd (LEI 5493005LFR3XVSOHOS43),
• FIBO Markets Ltd (LEI 213800JXJNPQ5XWE8L51).

It is noted that, in accordance with paragraph 6(3) of CySEC’s Directive DI87-07 for the Operation of the Investors Compensation Fund, 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 the companies BrightPool Ltd, VPR Safe Financial Group Ltd and FIBO Markets Ltd.