OptionRally Undercapitalized CySEC Outlines Client Money Violations
Posted: Wed Jul 12, 2017 4:40 pm
The Cyprus Securities and Exchange Commission has just suspended the operating license of OptionRally. The binary options brokerage, which at one point announced a deal to sponsor Formula 1 team Ferrari, is facing substantial operational difficulties.
The reason for the suspension of OptionRally’s license is the company’s possible non-compliance with client fund protection rules. According to CySEC’s communique, the company also might have been undercapitalized under the criteria set out in Cypriot law.
CySEC outlines in its announcement that the company is mandated to get its house in order within one week.
OptionRally has been showing weakness in ... (read more)