CySEC Slaps OptionBit Parent Company with Second Fine

[kreslik.news]

The Cyprus Securities and Exchange Commission (CySEC) today announced that it has fined Novox Capital Ltd, the parent company of binary options broker OptionBit, with €5,000 for violating the Investment Services and Activities and Regulated Markets Law.

Although the announcement was made today (March 10, 2017), the decision was made on the 30th January, more than five weeks ago, during a CySEC board meeting. Novox Capital is the parent company to several trading brands, mainly OptionBit which offers binary options.

More specifically, Novox Capital incurred a fine of €5,000 ($5,334) as it failed to notify CySEC immediately about rebranding one of its trading ... (read more)