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CySEC withdraws ICF memberships from four companies

12:49 - 11 January 2024

Financial Services

The Cyprus Securities and Exchange Commission (CySEC) announced that the Investors Compensation Fund (ICF) has withdrawn ICF membership from four companies, pursuant to paragraph 6 of CySEC’s Directive DI87-07 for the Operation of the Investors Compensation Fund.

The companies are Stone Edge Capital Ltd, Holiway Investments Ltd, FXBFI Broker Financial Invest Ltd and KAB Strategy Ltd.

“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,” CySEC said.

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.

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