The Cyprus Securities and Exchange Commission (CySEC) has
made an announcement regarding the Investors Compensation Fund (ICF) and the
withdrawal of membership status for Leverate Financial Services Ltd.
Revoking CIF Authorization and ICF Membership
According to CySEC, the withdrawal of ICF membership for
Leverate Financial Services Ltd. does not imply the loss of rights for covered
clients to receive compensation for investment operations conducted up until
the point of membership status loss. The conditions for compensation outlined
in the Directive remain applicable.
The decision to withdraw ICF membership has followed CySEC’s
move to revoke the Cyprus Investment Firm authorization of Leverate
Financial Services Ltd. This regulatory action is part of CySEC’s ongoing
efforts to ensure compliance and safeguard investor interests within the
financial sector.
This article was written by Tareq Sikder at www.financemagnates.com.