CySEC Anyoption ex-owner's CIF license withdrawn, following the voluntary decision from the company. The license withdrawal does not arise as a result of any regulatory action taken by the Cypriot watchdog.
14 September, AtoZ Markets – The key financial regulator of the Cypriot markets, the Cyprus Securities and Exchange Commission (CySEC) has today issued an announcement on its website. The regulator has confirmed that it has decided to entirely withdraw the Cyprus Investment Firm (CIF) License of Ouroboros Derivatives Trading Ltd.
CySEC Anyoption Ex-Owner's CIF License Withdrawn
Ouroboros Derivatives Trading Ltd. is the former company-owner of the Binary Options brand AnyOption, which has its authorization number as 187/12.
The decision does not come as a surprise considering the fact that Ouroboros has sold off Anyoption and its affiliated cluster of firms to portfolio management provider Invest.com. Noteworthy, a part of acquisition stated that Anyoption is set to terminate its Binary Options activity. Instead, the company would offer structured products, stock trading, CFDs, and portfolio management services.
The Cypriot regulator has highlighted that the Ouroboros’s license withdrawal is voluntary and is based on the company’s decision. It does not arise as a result of any regulatory action taken by the Cypriot watchdog. The CySEC writes in its announcement:
“The Cyprus Securities and Exchange Commission announces that, on its meeting of 3 rd September 2018, decided, pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017, to withdraw the Cyprus Investment Firm authorisation with Number 187/12 of Ouroboros Derivatives Trading Ltd (‘the Company’), due to the Company’s decision to expressly renounce it.”
Anyoption Isreali Center
The regulator did not go into the details about the reasons behind Ouroboros’s decision to surrender the CIF license. However, it is worth to note that the CySEC has seen a lot of regulated brokers choosing to voluntarily withdraw their license.
Earlier last February, AtoZ Markets reported that after CySEC has introduced the new Circular, it was reported that the Binary Options provider Anyoption closed its Israeli call center, thus laying off nearly 80 employees. The news about Anyoption just came right after last month Banc de Binary shut down.
Reportedly, a source from Anyoption commented to the local Israeli media that it is not intending to shut down the business. In order to confirm this story, AtoZ Markets reached out to Anyoption for an official comment on the case. Eventually, a spokesperson of Anyoption, who wished to remain anonymous, confirmed the case. When asked about the Anyoption Israel call center, the spokesperson answered:
"Yes. Only the call center will be moved. The rest of the operations are live and working."
Coming back to the latest announcement from CySEC, the exact reasons behind the decision of the company still remain unclear. However, it is known that CySEC will maintain supervision over the company until it has taken care of its responsibilities under the license.
As per the Cypriot regulatory rules, the company is obliged to return all outstanding balances to its clients. It should also handle all of the clients’ complaints. In addition, Ouroboros must provide a confirmation from its external auditor that it does not hold any pending obligations and should include details of each of the company’s clients.
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