Breaking: CySEC Suspends CIF Licenses for Capital Option, SkyFX

SkyFX and Capital Option's operations have formally been halted by CySEC, following a suspension of Trademarker's licensing after several alleged

Trademarker Ltd, the operating entity behind Capital Option and SkyFX, has had its Cyprus Investment Firm (CIF) license suspended by the Cyprus Securities and Exchange Commission (CySEC), following alleged violations and non-compliance measures, according to a recent regulatory filing.

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Trademarker is the brand that oversees SkyFX and binary options site Capital Option. In particular, SkyFX has had a brush with Cypriot regulatory authorities recently, being fined over $22,000 by CySEC back in May for improperly outsourcing segments of its operations and activities to Israel.

SkyFX is owned by Aviv Talmor, who also is the owner of the brokerage UTrade, which back in December faced ponzi scheme allegations from Israeli lawmakers, consequently resulting in a suspension of its operations. Talmor is also the individual who until recently was behind the Trademarker group, with the latest CIF suspension portending trouble for the beleaguered former UTrade CEO.

According to the CySEC regulatory manifest, Trademarker Ltd has drawn a suspension of its CIF license after several allegations (section 28[1]), violations in its client authorization (section 12), as well as organizational lapses (section 13) which violate CySEC requirements.

Most importantly, CySEC has opted to suspend Trademarker Ltd’s license given its potential to endanger the group’s client interests and assets, with negative repercussions on capital markets. As a result, CySEC has given Trademarker Ltd a period of fifteen days to remedy its aforementioned violations and to comply with the regulator’s provisions.

In the interim, Trademarker Ltd is prohibited from performing or providing any investment services across its operations and brands. In addition, clients across Trademarker’s brands are obligated to close any and all client positions in regard to previously outlined contractual obligations, including the return of their respective funds and profits earned.

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