CySEC Fines Binary Options Broker Opteck €50,000

[kreslik.news]

The Cyprus Securities and Exchange Commission (CySEC) has issued an announcement informing the public that it has imposed a fine on yet another binary options broker. The provider in focus is Opteck with its parent company Centralspot Trading.

Following an investigation, CySEC is imposing a €50,000 fine on the binary options brokerage for non-compliance with the regulatory framework. The company violated terms by outsourcing its services to third parties and at times was misrepresenting the qualifications of its personnel to clients and prospective clients.

Binary options brokers have been at the center of an incentive by CySEC to introduce stringent requirements for ... (read more)