The Cyprus Securities and Alternate Fee (CySEC) has
introduced the elimination of AMP International Ltd.’s membership from the Traders
Compensation Fund (ICF).
ICF Membership Eliminated, Compensation Out there
This choice follows the corporate’s withdrawal of its Cyprus
Funding Agency (CIF) authorizations. Regardless of the elimination from the ICF, purchasers
who have been coated by the fund should still be eligible for compensation for
funding actions carried out earlier than the withdrawal, supplied they meet the
circumstances outlined in CySEC’s Directive DI87-07.
The withdrawal doesn’t forestall compensation procedures from
being initiated for affected purchasers.
AMP International Suspends European Operations
Earlier, Finance
Magnates reported that AMP International, a US-based FX/CFD dealer, seems to
have suspended its European operations, beforehand carried out by AMP International
Ltd.
The
firm introduced it’s relinquishing its license from the CySEC. CySEC
confirmed the withdrawal of AMP International’s Cyprus Funding Agency (CIF)
authorization. AMP International, regulated by CySEC since 2018, was licensed to
function in Europe below this license.
Within the US, AMP International Clearing LLC stays registered as a
Futures Fee Service provider.
“We want to inform you that AMP International Ltd hereby
notifies you that it’s within the means of voluntarily renouncing its CIF
License with authorization quantity 360/18,” acknowledged the official dealer’s
web site.
“Due to this fact, the Firm will now not settle for any new
purchasers and/or the opening of any new accounts whereas it has terminated all its
present purchasers and knowledgeable them in regards to the process that needs to be adopted
for his or her funds return and submitting any complaints.”
This text was written by Tareq Sikder at www.financemagnates.com.
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