The author needs to re-write this as it makes no sense. The article suggests all clients above 100K are protected.
CySEC working to free client funds at Cyprus FX brokers
Central Bank of Cyprus has agreed to not haircut segregated bank accounts over €100,000, where the ultimate beneficiaries are small individual investors. LeapRate Exclusive... LeapRate has learned that Cyprus' financial regulator CySEC is working on behalf of licensed Cyprus investment firms, which include many FX and Binary brokers, to prevent the dreaded "haircut" on bank accounts holding segregated retail client funds at either Laiki Bank or the Bank of Cyprus. The Central Bank of Cyprus has agreed not to apply the "haircut" to bank accounts over €100,000, where the ultimate owners of the cash in those ... (full story)
- Posted: Apr 3, 2013 2:59am
- Submitted by:Category: Forex Industry NewsComments: 2 / Views: 1,161