CySEC Cancels ICF Membership of Neo Premium Investments

The Cyprus Securities and Exchange Commission (CySEC) announced on Tuesday the withdrawal of the Investment Investors Compensation Fund (ICF) membership of Neo Premium Investments (NPI) Ltd, pursuant to paragraph 6 of CySEC's Directive DI87-07 for the Operation of the Investors Compensation Fund.

Neo Premium Investments (NPI) Ltd is the owner and operator of the retail FX/CFD trading services provider, Brokereo.

The Cypriot financial watchdog notes that the loss of ICF membership status does not mean loss of rights of covered clients to receive compensation in relation to investment operations carried out until the loss of membership status, if the conditions for compensation are fulfilled pursuant to the Directive, nor does it obstruct the initiation of the compensation procedure for covered clients.

Last week, the regulator has withdrew​ the Cyprus Investment Firm (CIF) authorisation of Leverate Financial Services Ltd, as well as the Alternative Investment Fund Manager authorisation of the Deltamark Fund Management Ltd.