CySec imposes administrative fine €10.000 to Banc De Binary Ltd 

Cyprus Securities and exchange commission (cysec)

The Cyprus Securities and Exchange Commission informs the investors that, at its meeting held on 7.4.2014 , decided to impose the administrative fine of €10.000 in total against CIF “Banc De Binary Ltd” (‘the Company’) for breaching the Article 139 (2) of the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and other related matters Law of 2007, as in force (‘the Law’), for not disclosing important information in its application for obtaining a CIF licence submitted to the Commission in August 2012.

More precisely, “Banc De Binary Ltd” has concealed the existence of close links with another company.

 

Source: CySec

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