CySEC Revokes Leverate's ICF Membership
The Cyprus Investor Compensation Fund (CICF) revoked the ICF membership of member Leverate Financial Services Ltd.
The Cyprus Securities and Exchange Commission (CySEC) announced today that, in accordance with paragraph 6 of Directive DI87-07 on the Operation of the Investor Compensation Fund (ICF), the ICF membership of Leverate Financial Services Limited has been revoked.
It is noteworthy that, as per paragraph 6(3) of the directive, the loss of ICF membership does not preclude protected clients from their entitlement to compensation for investment services provided before the loss of membership, if they meet the compensation criteria stipulated in the directive. Nor does it hinder the initiation of the compensation process for protected clients.
Prior to the revocation of ICF membership, CySEC had already decided to withdraw the Cyprus Investment Firm (CIF) authorization of Leverate Financial Services Ltd.
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