Banc de Binary, closes and loses its CySEC licenses. There are only 3 months to resolve issues and complaints
Banc de Binary no longer has a Cypriot license. This is reported to us by the Cyprus Securities and Exchange Commission (CySEC). Recall that the company, specializing in binary options, announced on January 11 that it was going to cease its activities. At the same time, the license expired on January 15, and it is from this date that the countdown of the three-month period begins, which the Cypriot regulator gives Banc de Binary to fulfill its obligations to customers. During these three months, Banc de Binary will be under strict supervision by CySEC.
REVOCATION OF A LICENSE FOR VIOLATIONS OF THE REGULATIONS ON FINANCIAL TRADING. THE BIGGEST BINARY BROKER IS SHUTTING DOWN.
But the Cypriot regulator is not the only one who is going to monitor the broker. The French Financial Markets Authority (AMF) has already advised all investors who had accounts with Banc de Binary to send a letter to the company demanding the return of funds and the closure of the number.
The British also demand to pay the bills. The law firm from London “Giambrone”, moreover, is going to sue the Cypriots. The British have collected about 40 complaints from investors against the Cypriot broker. It seems that leaving the market was the only logical outcome for Banc de Binary.
Binary options brokers are closed due to non-compliance with the rules. Such brokers are required to close accounts and return money to traders. However, the broker’s regulation does not fully insure the entire amount. Therefore, the broker will return only part of the money to traders.
At the same time, do not be afraid to open an account with brokers and start making money on binary options, because today, you can find in the rating of honest brokers who do not know how to problems with regulators.
Tagged with: Bank De Binary
