Cyprus Mail

Banc De Binary, CySEC agree on €350,000 settlement

The Cyprus Securities and Exchange Commission (CySEC) and Investment firm Banc De Binary have reached a settlement for the amount of €350,000 over possible violations of the law.

“A settlement has been reached with the Cyprus Investment Firm Banc De Binary Ltd (BDB) for which there was suspicion of possible violations of the Investment Services and Activities and Regulated Markets Law of 2007 and of the Directives issued pursuant to the Law,” CySEC said.

The investigation involved an assessment of the company’s compliance with the conditions under which it had received its licence, and conduct of business obligations when providing investment and ancillary services to clients.

“The settlement reached with BDB, for the possible violations, is for the amount of €350.000,” CySEC said.

The company has paid the money.

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