CySEC Refuses CIF License to Stardor Limited Who Runs Shortoption.com

Stardor Limited, the firm behind binary option broker Shortoption.com has been refused authorization by the Cypriot financial watchdog. In a statement announced by the Cyprus Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (CySEC), the Cyprus-based financial services binary broker will have to terminate all operations with immediate effect. The notification comes after 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’s focus has been to clear out unregulated brokers from the island.

The regulator conducted a meeting on the 31st December, 2013 which concluded that Stardor Limited had not provided suitable information in relation to its CIF application.

According to the regulators' rulings CySEC has, as per the official statement: “Pursuant to sections 6(3) and 22 of the Investment Services and Activities and Regulated Markets Law of 2007 (‘the Law’), not to grant CIF authorisation to ‘Stardor Limited’ (‘the company’) due to the fact that from the information received, it was not possible to evaluate the suitability of the shareholder.”

Binary options are a regulated asset class, under CySEC it was one of the first financial regulators in Europe to authorize the product. According to the regulator's website: “As of May 3rd, 2012, following a review at European level of how binary options are classified and regulated in other EU member-states, CySEC has decided to include binary options in the list of financial instruments that fall within the remit of the Investment Services and Activities and Regulated Markets Law of 2007-2009 (the ‘Law’).”