Investor Compensation Fund
CFI Markets Ltd, (hereinafter referred to as the “Company”), is an investment firm incorporated and registered in the republic of Cyprus under registration No HE 303814 and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), license No 179/12, and is a member of the Investor Compensation Fund (ICF).
1 Purpose of the Fund
a. Return funds owed to its covered clients or belong to them, but are held by the Company in the context of providing investment services to the covered client.
b. Return financial instruments that belong to the covered clients and which the Company holds, manages or keeps on its account.
2 Covered Clients
a. Investment Firms
b. Legal entities associated with the member of the Fund and, in general, belonging to the same group of companies
d. Cooperative credit institutions
e. Insurance companies
f. Collective investment organizations in transferable securities and their management companies
g. Social insurance institutions and funds
h. Investors characterized by the member as professional, upon their request, in accordance with articles 14 and 15 of the Code of Professional Conduct of Investment Firms:
1. States and international organizations.
2. Central, federal, confederate, regional and local administrative authorities.
3. Enterprises associated with the member of the Fund, in accordance with the Fifth Schedule of the Law 144(I).
4. Managerial and administrative staff of the member of the Fund.
5. Shareholders of the participating Company, whose participation directly or indirectly in the capital of the Company amounts to at least 5% of its share capital, or its partners who are personally liable for the obligations of the Company, as well as persons responsible for the carrying out of the financial audit of the Company as provided by the Law, such as its qualified auditors.
6. Investors involved in enterprises connected with the Company and, in general, of the group of companies, to which the Company belongs, positions or duties corresponding to the ones listed in paragraphs 5 and 6 above.
7. Second-degree relatives and spouses of the persons listed in paragraphs 5, 6 and 7, as well as third parties acting for the account of these persons.
8. Apart from investors convicted of a criminal offence, pursuant to the Cyprus Prevention and Suppression of Money Laundering Activities Law, investor-clients of the Company responsible for facts pertaining to the Company, whom have caused its financial difficulties or have contributed to the worsening of its financial situation or whom have profited from these facts.
9. Investors in the form of a company, which due to its size, is not allowed to draw a summary balance sheet in accordance with the Companies Law or a corresponding law of a Member State.
The maximum amount of compensation that may be paid to a covered client is EUR 20,000 for covered services, irrespective of the number of accounts held, currency and place of offering the investment service. It is also noted that investment firms shall not pay any compensation to a client who has been convicted of a criminal offence under the Prevention and Suppression of Money Laundering Activities Law.
Leveraged products involve high risks and losses may exceed the invested capital