CySEC confirms Investors Compensation Fund membership withdrawal of eight firms
The Cyprus Securities and Exchange Commission (CySEC) has confirmed the Investors Compensation Fund (ICF) membership withdrawal of eight firms.
The affected firms are:
- General Capital Brokers (GCB) Ltd,
- Royal Forex Ltd,
- Abris-Cee Holdings Ltd,
- Merba Limited,
- Tanius Technology Europe Ltd,
- Crowdbase Ltd,
- PMT Matrix Capital Ltd, and
- Citium Wealth (CY) Ltd (ex. SOVA Asset Management Ltd).
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 General Capital Brokers (GCB) Ltd, Royal Forex Ltd, Abris-Cee Holdings Ltd, Merba Limited, Tanius Technology Europe Ltd, Crowdbase Ltd, the Alternative Investment Fund Manager and UCITS Management Company authorisation of the company PMT Matrix Capital Ltd and the Alternative Investment Fund Manager authorisation of the company Citium Wealth (CY) Ltd (ex. SOVA Asset Management Ltd).
