The Cyprus Securities and Exchange Commission (CySEC) issued
a warning on Monday about the company Binarium Ltd and several of its websites
that have not been granted an authorization to provide investment services.
According to the advisory, the domains are binarium.com,
binarium.link, binarium.click, binarium.global, binarium.trading, and
binarium.trade. “CySEC urges investors to consult its website
(www.cysec.gov.cy), before conducting business with investment firms, in order
to ascertain the entities which are licensed to provide investment services
and/or investment activities,” the watchdog added in the statement.
As of press time, no comments are coming from Binarium,
whose main domain remains online. The website operates under the license HE321566
and has offices in Nicosia, Cyprus. Binarium was founded in 2012 and provided
little information on its homepage about its services to the public without
specifying explicitly it offers binary options services.
Recent Warnings
Recently, the CySEC raised red flags on four websites offering
foreign exchange trading services to investors in the country. The websites are
Crypto Banxa Trade (cryptobanxatrade.com), FX Wet (fxwet.com), Skye Crypto FX
(skypecryptofx.com) and Capital Base FX (capitalbasefx.com). The Cypriot
authority said the websites do not belong to an entity granted authorization
under Article 5, Law 87 (I) of the country’s Investment Services and Activities
and Regulated Markets Law of 2017.
The Cypriot financial industry watchdog said the websites
are not permitted to provide or perform investment services or activities in the
country. CySEC’s warning comes the same month the regulatory organization
warned against fraudsters that it said were presenting themselves as its
officers and representatives.
CySEC recently announced its enforcement action against two
regulated companies, Ayers Alliance Financial Group Limited and
BrokerCreditService (BCS) (Cyprus) Limited. While Ayers Alliance was found to
be in violation of the regulator’s mandatory staffing requirements for its risk
management department, BCS Cyrpus faced an administrative fine of €10,000 for
non-compliance with the country’s market abuse laws.
The Cyprus Securities and Exchange Commission (CySEC) issued
a warning on Monday about the company Binarium Ltd and several of its websites
that have not been granted an authorization to provide investment services.
According to the advisory, the domains are binarium.com,
binarium.link, binarium.click, binarium.global, binarium.trading, and
binarium.trade. “CySEC urges investors to consult its website
(www.cysec.gov.cy), before conducting business with investment firms, in order
to ascertain the entities which are licensed to provide investment services
and/or investment activities,” the watchdog added in the statement.
As of press time, no comments are coming from Binarium,
whose main domain remains online. The website operates under the license HE321566
and has offices in Nicosia, Cyprus. Binarium was founded in 2012 and provided
little information on its homepage about its services to the public without
specifying explicitly it offers binary options services.
Recent Warnings
Recently, the CySEC raised red flags on four websites offering
foreign exchange trading services to investors in the country. The websites are
Crypto Banxa Trade (cryptobanxatrade.com), FX Wet (fxwet.com), Skye Crypto FX
(skypecryptofx.com) and Capital Base FX (capitalbasefx.com). The Cypriot
authority said the websites do not belong to an entity granted authorization
under Article 5, Law 87 (I) of the country’s Investment Services and Activities
and Regulated Markets Law of 2017.
The Cypriot financial industry watchdog said the websites
are not permitted to provide or perform investment services or activities in the
country. CySEC’s warning comes the same month the regulatory organization
warned against fraudsters that it said were presenting themselves as its
officers and representatives.
CySEC recently announced its enforcement action against two
regulated companies, Ayers Alliance Financial Group Limited and
BrokerCreditService (BCS) (Cyprus) Limited. While Ayers Alliance was found to
be in violation of the regulator’s mandatory staffing requirements for its risk
management department, BCS Cyrpus faced an administrative fine of €10,000 for
non-compliance with the country’s market abuse laws.
Source: https://www.financemagnates.com/binary-options/cysec-raises-red-flag-on-websites-associated-to-binarium-ltd/