The Cyprus Securities and Exchange Commission (CYC) announced today that the Investor Compensation Fund (ICF) has withdrawn the ICF membership of Neo Premium Investments (NPI) Ltd.
It is noted that, in accordance with paragraph 6(3) of the Directive, the loss of ICF membership does not mean the loss of covered clients’ rights to receive compensation in relation to investment transactions carried out before the loss of membership, if the conditions for compensation are met in accordance with the Directive, nor does it prevent the initiation of compensation proceedings for covered customers.
The withdrawal of ICF membership took place following the decision of Cypriot Cypriot Investment Company (CIF) Neo Premium Investments (NPI) Ltd. to revoke its license.
Neo Premium Investments was formerly known as Concorde Investments (Cyprus) Ltd. Before that it operated as Skopalino Finance Ltd.