The Cyprus Securities and Exchange Commission (CySEC) announced that the Investors Compensation Fund (ICF) has withdrawn the ICF membership of IFCM Cyprus Ltd, Arumpro Capital Ltd, Greenpost Trading Europe Ltd and Reliantco Investments Ltd under paragraph 6 of CySEC Directive DI87-07 on the operation of the ICF. The withdrawal followed CySEC’s decision to withdraw the Cyprus Investment Firm (CIF) authorisation of the same entities. 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 up to the point membership was lost, provided the Directive’s conditions for compensation are met, and it does not prevent the initiation of the compensation process for covered clients.
Cyprus Securities and Exchange Commission 2025-01-22
Cyprus Securities and Exchange Commission withdraws Investors Compensation Fund membership of IFCM Cyprus, Arumpro Capital, Greenpost Trading Europe and Reliantco Investments
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of IFCM Cyprus Ltd, Arumpro Capital Ltd, Greenpost Trading Europe Ltd, and Reliantco Investments Ltd after revoking their Cyprus Investment Firm (CIF) authorisations. Despite losing ICF membership, covered clients retain rights to compensation for prior investment operations if conditions are met, and the compensation process can still be initiated.