Breaking: Pegase Capital CIF License renounced


26 May AtoZForex, Vilnius — Today, CySEC made a vital announcement relating to the earlier license suspension of Pegase Capital Limited. The parent company of Interactive Option, Pegase Capital Ltd has renounced its CIF license as of 13th of May, 2016.

Last year, in November 2015, Pegase Capital CIF license was suspended, which was followed by the extension of suspension on 7th of May, 2016. The CIF firm holds quite a big portfolio of the brands, having the Interactive Option and HelloBrokers as the Binary Options trademarks. Additionally, the MTX Plus brand is also under Pegase Capital Ltd’s name.

The reasons for the initial suspension

Originally, Pegase Capital CIF license suspension was executed after the Cyprian regulator discovered that the Interactive Option parent has violated eleven counts of the CySEC’s regulation. Moreover, the CIF firm was fined €300,000 back in November. Furthermore, Pegase Capital Ltd. is present on the Canada’s British Columbia Securities Commission (BCSC) and Russia’s KROUFR warning list.

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Why the extension took place?

CySEC provided several reasons for the CIF firm’s suspension extension. They are published on CySEC’s official website as follows:

While the suspension of the authorisation remains in force, Pegase Capital Ltd:

1. Cannot provide/perform any investment services/activities, pursuant to section

26(5) of the Law.

2. Must, if existing clients so wish, without being considered in violation of section.

26(5) of the Law:

2.1. Close all open positions in relation to clients’ contracts, or of its own, on their maturity date or on an earlier date if the client so wishes.

2.2. Return to existing clients all of their funds and profits earned.

What next for Interactive option and Pegase Capital?

The Cypriot regulator announced that Pegase Capital Limited is now required to settle its obligations emergent from the investment services that lapsed. The procedure should be performed within a period of 3 months. Additionally, the Cyprus Investment Firm must remain under the supervision of CySEC until its settles its obligations, as mentioned before.

In more detail, CySEC demanded Pegase Capital Ltd ‘to proceed with changes in its website and/or in any other website so that, any references regarding authorization and supervision of the Company by CySEC, be removed.’, as stated in the official announcement by CySEC.

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