The Cyprus Securities and Exchange Commission (CYSEC) announced today that the Investor Compensation Fund (ICF) has withdrawn the ICF status of the following businesses:
- Oasis Wealth Management Ltd (LEI 213800NARD8GWFZYV247),
- The Alternative GMI LTD (LEI 213800HBGUF8O2CQ5D36),
- ITRADE GLOBAL (CY) LTD (LEI 213800S1DAWOXFDGQ42),
- Vivarno Markets Ltd (LEI 54930084MPFPL8QNFB73).
The move is in line with paragraph 6 of CYSEC DI87-07 for the operation of the Investor Compensation Fund.
CYSEC notes that, in accordance with paragraph 6 (3) of the Directive, the loss of the ICF’s participation status does not mean loss of covered customers to receive compensation in relation to investment activities carried out until the loss of integration status, if the conditions for compensation are fulfilled,
The withdrawal of ICF’s participation was held following CYSEC’s decision to withdraw the authorization of Oasis Wealth Management Ltd, the Authorization of Alternative Authorization of the Alternative GMI LTD and the authorization of CYPRUS Investment (CIF)