CySEC declares withdrawal of ICF membership of RMG Holdings and Trilt

The Cyprus Securities and Trade Fee (CySEC) right now introduced that the Buyers Compensation Fund (ICF) has withdrawn the ICF membership of the next members:

  1. RMG Holdings Ltd, and

  2. Trilt Ltd.

It’s famous that, in accordance with paragraph 6(3) of the Directive, the lack of ICF membership standing doesn’t imply lack of rights of coated purchasers to obtain compensation in relation to funding operations carried out till the lack of membership standing, if the circumstances for compensation are fulfilled pursuant to the Directive, nor does it impede the initiation of the compensation process for coated purchasers.

The withdrawal of the ICF membership was carried out after CySEC’s choice to withdraw the Cyprus Funding Agency (CIF) authorisation of RMG Holdings Ltd and Trilt Ltd.