The Cyprus Securities and Exchange Commission (CySEC) has issued a communique that reveals that binary options broker Banc De Binary has renounced its license. The news comes only days after Finance Magnates revealed that the company is preparing to close down its operations.

After operating for a number of years as a Cyprus Investment Firm (CIF), the binary options brokerage is looking for an orderly exit from the industry. In the meantime, London-headquartered law firm Giambrone has announced that it is looking to file a class action lawsuit against the firm.

According to CySEC’s announcement, Banc De Binary renounced ... (read more)