The Financial Supervisory Service (FSS) revoked the registration of Lime Asset Management Tuesday evening for deceiving investors and causing huge financial losses.
The Financial Supervisory Service (FSS) warned three brokerage firms and their CEOs — either former or incumbent — that they could be in big trouble for selling troubled Lime funds to customers.
NH Investment & Securities will provide compensation for up to 70 percent of losses suffered by investors in Optimus funds. The announcement came after six rounds of emergency board meetings held to discuss the issue.
The financial companies that sold a dud Lime Asset Management fund to unsuspecting investors are on the hook for 100 percent of the losses, the Financial Supervisory Service (FSS) advised.