CySec has issued a Consultation Paper regarding trading in binary options
The Cyprus Securities and Exchange Commission (CySec) is circulating a document for consultation with market participants regarding proposed changes in the regulatory framework.
CySec has prepared this circular: Consultation paper regarding the Trading of binary options contracts in order to inform the CIFs, that they must use trading platforms for reception and execution, or transmission, of orders, which, among others:
1. Provide adequate information to clients about binary options, so that there is full transparency.
2. Operate in a way that is fair to clients.
This circular refers to Cyprus Investment Firms which are providing services in relation to binary options.
With this Proposed Circular, CySec informs regarding:
A. Legislative framework
Β. Compliance with Law – Accepted Practices
C. Establishment and implementation of appropriate arrangements/procedures
The CySEC invites you to submit your comments/suggestions, in word format, by Thursday December 31, 2015 to the electronic address supervision@cysec.gov.cy.
For the full proposed circular: Consultation paper regarding the Trading of binary options contracts
Source: CySec
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