CySEC Withdraws ICF Membership From R.I.A.L Raising Investment Advisory

by THEFUTURE.TEAM

September 18, 2026

Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of R.I.A.L Raising Investment Advisory Ltd following the loss of the company’s regulated status in Cyprus.

The move follows CySEC’s earlier decision to revoke the company’s Cyprus Investment Firm (CIF) authorization, ending its regulated operating status in the country.

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What The Investors Compensation Fund Covers

The Investors Compensation Fund, or ICF, is a statutory scheme that compensates eligible clients of investment firms that cannot meet their obligations. Coverage is subject to the conditions and requirements set out in the relevant rules.

ICF membership provides a layer of protection for clients when a regulated firm fails to meet its obligations.

Membership Withdrawal Follows Licence Revocation

CySEC said the withdrawal of ICF membership resulted directly from its decision to revoke R.I.A.L Raising Investment Advisory Ltd’s CIF authorization.

However, the regulator stressed that losing ICF membership does not automatically remove the rights of clients who may be covered by the scheme.

Eligible Clients Can Still Seek Compensation

Clients covered by the ICF may remain entitled to compensation for investment services and operations carried out before the company lost its membership, provided they meet the conditions set by CySEC’s directive governing the fund.

The withdrawal also does not prevent the compensation process from being initiated for eligible clients. The change affects the firm’s regulatory status but does not automatically eliminate potential claims related to earlier activities.

Regulatory Status And Client Claims Are Separate

The distinction between a firm’s authorization and clients’ compensation rights is significant. Losing a regulatory licence does not necessarily end protections that may have already applied to eligible clients.

For investors and other market participants, the case illustrates that licensing, ICF coverage and compensation claims involve separate legal and procedural requirements.

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Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

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