The Cyprus Securities and Exchange Commission (CySEC) today confirmed that four investment firms have had their membership in the Investors Compensation Fund (ICF) withdrawn.
The following firms 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) and
- KAB Strategy Ltd (LEI 549300GQQTXQWZLYWH30).
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 Stone Edge Capital Ltd, Holiway Investments Ltd, FXBFI Broker Financial Invest Ltd and ΚΑΒ Strategy Ltd.
