The Cyprus Securities and Exchange Commission (CySEC) announced that the Investors Compensation Fund (ICF) has withdrawn the ICF membership of Oasis Wealth Management Ltd (LEI 213800NARD8GWFZYV247), The Alternative GMI Ltd (LEI 213800HBGUF8O2CQ5D36), Itrade Global (CY) Ltd (LEI 213800S1DAWWOXFDGQ42) and Viverno Markets Ltd (LEI 54930084MPFPL8QNFB73), under paragraph 6 of CySEC Directive DI87-07 on the operation of the ICF. 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 of membership loss, provided the Directive’s conditions for compensation are met, and it does not prevent the initiation of the compensation procedure. The membership withdrawal followed CySEC’s withdrawal of Oasis Wealth Management Ltd’s UCITS management company authorisation, The Alternative GMI Ltd’s alternative investment fund manager authorisation, and the Cyprus investment firm authorisations of Itrade Global (CY) Ltd and Viverno Markets Ltd.
Cyprus Securities and Exchange Commission 2025-09-04
Cyprus Securities and Exchange Commission confirms Investors Compensation Fund membership withdrawal for four firms following licence revocations
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of four firms, including Oasis Wealth Management Ltd and Viverno Markets Ltd, under CySEC Directive DI87-07. Despite the membership loss, clients retain rights to compensation for prior investment operations if conditions are met. This action follows CySEC's withdrawal of various authorisations from these firms.