The Cyprus Securities and Exchange Commission (CySEC) today revealed that the Investors Compensation Fund (ICF) membership of two companies has been withdrawn, including RMG Holdings Ltd and Trilt Ltd.
The former Cyprus Investment Firms (CIFs)’s licenses for both companies were previously withdrawn.
CySEC stated in the official announcement:
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.
Cyprus-based RMG Holdings has voluntary renounce its CIF authorizations in March 2022 and Forex and CFDs brokerage firm Trilt decided to renounce its CIF license earlier this year.
Earlier in February, CySEC withdrew the ICF membership of three firms.
