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Screenshot of a breaking news alert e-mail from Q2 2017
The Cyprus Securities and Exchange Commission (CySEC) has just announced an extension to the suspension of the Cyprus investment firm (CIF) license of Pegase Capital Limited, which owns brands like Interactive Option.
The regulator initially suspended Pegase Capital’s license on March 4, 2016, referring to numerous numerous violations of Cypriot investment laws. In November last year, CySEC imposed a fine of EUR 300,000 on the broker.
During the time of the suspension of the authorisation, Pegase Capital Ltd:
1. Cannot provide/perform any investment services/activities.
2. Must, if existing clients so wish,
2.1. Close all open positions in relation to clients’ contracts, or of its own, on their maturity date or on an earlier date if the client so wishes.
2.2. Return to existing clients all of their funds and profits earned.
On Wednesday, Pegase Capital made it to the Investment Caution list of the British Columbia regulator, which warned that the company is not licensed to target BC residents but nevertheless has been doing so.
For the full announcement from CySEC, click here.