Banc De Binary license was terminated by the International Financial Services Commission of Belize for non-compliance with a number of terms. What else do we know?
18 October, AtoZForex – In line with its duty of maintaining a safe investment environment, the International Financial Services Commission of Belize (IFSC) has published a warning notice on BDB Services (Belize) Limited, the Belize subsidiary of Binary Options broker Banc de Binary.
Belize regulator revokes Banc De Binary license
The Warning Notice implies the termination of the broker’s IFSC license, where the official document states that the company “is no longer licensed by the IFSC due to non-compliance with some conditions, without giving further details.”
The IFSC has terminated the license of the Binary Options broker Banc de Binary due to its non-compliance to some of the terms stated in the annex attached to the license granted. The license was granted for “Trading in financial and commodity-based derivative instruments and other securities”. The regulator recommends all the investors to exercise extreme caution regarding this case.
The latest warnings from the regulator
The Belize watchdog also warns against the firm, operating under the name MCCAIN STEVEN. According to IFSC, the firm has been falsely claiming that it possesses the license from the Belize regulator.
Moreover, another fraudulent firm was unmasked yesterday, as the Belize regulator issues a warning notice against Krish Venture Ltd./Krish Ventur Ltd, stating that the firm has been “fraudulently claiming to hold a certificate of good standing issued by the International Business Companies Registry of Belize.”
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