The Cyprus Securities and Exchange Commission (CySEC) announced that the Investors Compensation Fund (ICF) has withdrawn ICF membership from eight members under paragraph 6 of CySEC’s Directive DI87-07 for the Operation of the Investors Compensation Fund. The affected entities are General Capital Brokers (GCB) Ltd, Royal Forex Ltd, Abris-Cee Holdings Ltd, Merba Limited, Tanius Technology Europe Ltd, Crowdbase Ltd, PMT Matrix Capital Ltd, and Citium Wealth (CY) Ltd (formerly SOVA Asset Management Ltd). The withdrawals followed CySEC’s decisions to withdraw the Cyprus Investment Firm authorisations of the first six companies, the Alternative Investment Fund Manager and UCITS Management Company authorisation of PMT Matrix Capital Ltd, and the Alternative Investment Fund Manager authorisation of Citium Wealth (CY) Ltd. CySEC noted that, under paragraph 6(3) of the Directive, loss of ICF membership does not remove covered clients’ rights to compensation for investment operations carried out until the loss of membership status where the Directive’s conditions are met, and it does not prevent the start of the compensation procedure.
Cyprus Securities and Exchange Commission 2025-06-05
Cyprus Securities and Exchange Commission reports Investors Compensation Fund has withdrawn membership of eight firms following authorisation withdrawals
The Cyprus Securities and Exchange Commission (CySEC) withdrew Investors Compensation Fund (ICF) membership from eight entities, including General Capital Brokers Ltd and Royal Forex Ltd, after revoking their authorisations. Despite losing ICF membership, covered clients retain rights to compensation for prior investment operations if conditions are met, and the compensation procedure may still commence.