Exclusive: OptionWeb Lays Off Staff Due to New Binary Options Regulations

[kreslik.news]

OptionWeb, one of the oldest binary options brokerages in the industry, has laid off a number of employees in recent weeks, a company spokesperson has confirmed to Finance Magnates. The move happens as many other companies in the industry are consolidating operations as CySEC has started enforcing its new regulatory framework.

“As a result of the new legislation in place, Lionsman Capital Markets Ltd. was unfortunately forced to lay off 40 employees working for its various service providers outside of Europe. This decision was made as a direct result of these active workforce geo-location laws,” the company said in a statement ... (read more)