CySEC confirms withdrawal of ICF membership for four investment firms
CySEC today confirmed that four investment firms have been withdrawn from the Investor Compensation Fund (ICF) membership.。
The Cyprus Securities and Exchange Commission (CySEC) today confirmed that four investment firms have been withdrawn from membership in the Investor Compensation Fund (ICF).。
The following companies are no longer members of the ICF:
◇ Stone Edge Capital Ltd（LEI 213800PZFB9VV8FNWB30）
◇ Holiway Investments Ltd（LEI 549300UOLC26RW3KDJ09）
◇ FXBFI Broker Financial Invest Ltd（LEI 21380042CEXI1HE2DK66）
◇ KAB Strategy Ltd（LEI 549300GQQTXQWZLYWH30）
It is worth noting that, according to paragraph 6 (3) of the Directive, if the conditions for compensation under the Directive are met, the loss of ICF membership does not mean that the underwriting client loses the right to compensation for the investment business conducted prior to the loss of membership, nor does it prevent the underwriting client from initiating compensation proceedings.。
The withdrawal of ICF membership follows CySEC's decision to revoke the Cyprus Investment Company (CIF) authorisation of Stone Edge Capital Ltd, Holway Investments Ltd, FXBFI Broker Financial Invest Ltd and KABStrategy Ltd。
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