CySEC announced yesterday that it has withdrawn ICF membership from Sonax Business Ltd and Belight Capital Group Ltd.
However, it is worth noting that insured clients do not lose their rights and, if necessary, will receive compensation, since their contract with the company was concluded before the loss of status.
CySEC also imposed a fine of 3,000 euros on CIF Atlantic Securities Ltd due to the fact that the companies were unable to create and maintain a working mechanism for detecting suspicious transactions.
