Two investment firms excluded from the Cyprus Investor Compensation Fund
On Friday, the Cyprus Securities and Exchange Commission announced the exclusion of two companies from the Cyprus Investor Compensation Fund (ICF).
According to the regulator's statement, the following have been excluded from the fund:
- VM Vita Markets Ltd
- HTFX (EU) Ltd
At the same time, it is emphasized that in accordance with paragraph 6(3) of directive OD87-07, the loss of fund membership status does not mean depriving clients of the right to compensation for investment transactions carried out prior to the moment of exclusion, provided that the requirements for the payment of compensation are met.
Furthermore, the exclusion does not prevent the commencement of compensation procedures for clients covered by the fund.
The decision to exclude follows the Commission's withdrawal of the Cyprus Investment Firm (CIF) licenses for both companies.
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