CySEC reaches a €300,000 settlement with Banc De Binary Ltd

cysec suspends cif licence

The Cyprus regulator CySEC announced that it has reached a settlement with the company Banc De Binary Ltd. for violations of The Investment Services and Activities and Regulated Markets Law of 2007.

The settlement reached with Banc De Binary Ltd. is for the amount of €300.000 and has already been paid by the company.

CySEC has the power to reach a settlement for any violation or possible one, if there is enough reasonable ground to believe that it took place in violation of the provisions of the regulator’s supervised legislation.

CySEC has recently permanently deleted Hellenic Secretarial Services Ltd from the Register and made several announcements regarding withdrawal of CIF authorisations of eight companies.

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