OptionRally Regains CySEC License After 3-Month Suspension
- OptionRally was initially flagged for non-compliance and had its license temporarily suspended by CySEC in July.
Following series of fines and license suspensions, the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) has today cancelled its previous suspension of the operating license of the binary options broker OptionRally.
The Cypriot regulator said it’s now satisfied as the company has complied with regulatory obligations after adopting correctives measures and actions to tackle suspicions of violations of the Investment Services and Activities and Regulated Markets Law 2007. CySEC also highlights that the decision about withdrawal of the CIF license suspension was taken on October 2, 2017.
OptionRally is regulated by the CySEC and has therefore to comply with the Cyprus Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in order to maintain its CIF trading license that enables the broker to offer its services across Europe, the watchdog stated.
As reported by Finance Magnates in July, OptionRally was initially flagged for non-compliance and had its license temporarily suspended by CySEC following several allegations of multiple violations. The initial suspension was reported as the regulator believed the binary options broker was not operating in accordance with the Cyprus’ law of protection of client funds. Additionally, the sum of the broker’s capital requirements seemed to be bigger than the firms’ own funds.
CySEC considered these breaches could jeopardize the interests of broker’s clients and interface with the capital market operation. Hence, the watchdog suspended OptionRally’s license.
In addition, CySEC fined OptionRally with €138,000 in September 2016 for violating several regulation sections. The company has been showing weakness in recent months including laying off a number of employees at the end of last year.
OptionRally has been involved in one of the bigger sponsorship deals in the industry with the company’s logo appearing on the Ferrari’s Formula 1 race cars.
Following series of fines and license suspensions, the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) has today cancelled its previous suspension of the operating license of the binary options broker OptionRally.
The Cypriot regulator said it’s now satisfied as the company has complied with regulatory obligations after adopting correctives measures and actions to tackle suspicions of violations of the Investment Services and Activities and Regulated Markets Law 2007. CySEC also highlights that the decision about withdrawal of the CIF license suspension was taken on October 2, 2017.
OptionRally is regulated by the CySEC and has therefore to comply with the Cyprus Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in order to maintain its CIF trading license that enables the broker to offer its services across Europe, the watchdog stated.
As reported by Finance Magnates in July, OptionRally was initially flagged for non-compliance and had its license temporarily suspended by CySEC following several allegations of multiple violations. The initial suspension was reported as the regulator believed the binary options broker was not operating in accordance with the Cyprus’ law of protection of client funds. Additionally, the sum of the broker’s capital requirements seemed to be bigger than the firms’ own funds.
CySEC considered these breaches could jeopardize the interests of broker’s clients and interface with the capital market operation. Hence, the watchdog suspended OptionRally’s license.
In addition, CySEC fined OptionRally with €138,000 in September 2016 for violating several regulation sections. The company has been showing weakness in recent months including laying off a number of employees at the end of last year.
OptionRally has been involved in one of the bigger sponsorship deals in the industry with the company’s logo appearing on the Ferrari’s Formula 1 race cars.