CySEC issues €90,000 fine to former FX and Binary Options broker operator Lionsman


CySEC fine

Cyprus financial regulator has issued a €90,000 fine to Lionsman Capital
Markets (Cyprus) Ltd, which used to operated Forex and Binary Options brokerages.

Lionsman used to own and operate the OptionWeb binary options and NessFX retail FX and CFDs websites, however quite a while ago those brands were offloaded to two other CySEC licensed entities – OptionWeb to Spot Capital Markets Limited, and NessFX to FxNet Limited.

CySEC did not specify the exact reason for the fine, but did state that a settlement has been reached with Lionsman, for which there were possible violations of the Investment Services and Activities and Regulated Markets Law of 2007 and of the Directives issued pursuant to the Law.

The full text of the CySEC release on the matter can be seen here (pdf).

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CySEC issues €90,000 fine to former FX and Binary Options broker operator Lionsman

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