CySEC Revokes ICF Membership of London Capital Group (Cyprus) Ltd and Other Two Entities
The Cyprus Securities and Exchange Commission ('CySEC') wishes to inform the public that, the Investors Compensation Fund ('the ICF'), pursuant to paragraph 6 of Directive DI87-07 for the Operation of the Investors Compensation Fund ('the Directive'), has withdrawn the ICF membership of the following members:
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2. London Capital Group (Cyprus) Ltd, and
3. Felicitas Management Investment Services Ltd.
It is noted that, in accordance with paragraph 6(3) of the Directive, 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.
The withdrawal of the ICF membership by the ICF was carried out after CySEC's decision to withdraw the Cyprus Investment Firm (CIF) authorisation of Daweda Exchange Ltd, London Capital Group (Cyprus) Ltd και Felicitas Management Investment Services Ltd.
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