The Cyprus Securities and Exchange Commission (CySEC) announced that the Investors Compensation Fund (ICF) has withdrawn the ICF membership of BrightPool Ltd, VPR Safe Financial Group Ltd and FIBO Markets Ltd under paragraph 6 of CySEC Directive DI87-07 on the operation of the ICF. The ICF membership withdrawals followed CySEC’s decision to withdraw the companies’ Cyprus Investment Firm (CIF) authorisation. CySEC noted that, under paragraph 6(3) of the Directive, the loss of ICF membership does not remove covered clients’ rights to compensation for investment operations carried out up to the point of membership loss, provided the Directive’s compensation conditions are met, and does not prevent the initiation of the compensation procedure. The affected members are BrightPool Ltd (LEI 2138007MC4C34J892J46), VPR Safe Financial Group Ltd (LEI 5493005LFR3XVSOHOS43) and FIBO Markets Ltd (LEI 213800JXJNPQ5XWE8L51).
Cyprus Securities and Exchange Commission 2025-11-13
Cyprus Securities and Exchange Commission reports Investors Compensation Fund withdraws membership of BrightPool, VPR Safe Financial Group and FIBO Markets
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of BrightPool Ltd, VPR Safe Financial Group Ltd, and FIBO Markets Ltd following the revocation of their Cyprus Investment Firm authorisation. Despite the loss of ICF membership, clients retain the right to compensation for prior investment operations if conditions are met.