7 April AtoZForex, Amsterdam — Last year in November, the Cyprus Securities and Exchange Commission (CySEC) suspended the license of CIF firm Pegase Capital Limited. Months after the act of the Cypriot financial regulator, today CySEC extends license suspension of Interactive Option parent company.
Initially, Pegase Capital Ltd’s license suspension was imposed after CySEC discovered that the CIF firm was non-compliant with eleven counts of the regulator’s regulation. Hence, back in November CySEC fined Pegase Capital Ltd €300,000, marking a hefty administrative fine of the Cypriot watchdog.
Trading with HelloBrokers or MTX Plus?
Not only does Pegase Capital Ltd owns the binary options brand Interactive Option, the CIF firm actually holds a varied portfolio of brands including HelloBrokers and MTX Plus. Ever since CySEC fined and suspended the license of Pegase Capital Ltd in November 2015, the Cypriot financial regulator issued on the 4th of March 2016 an announcement upon the case.
See also: CySEC ACFX license suspension
Thereafter, the board of the Cyprus Securities and Exchange Commission held a meeting on the 4th of April 2016, when it was decided that CIF firm’s license suspension of Pegase Capital Ltd with the number 225/14 will be extended. Yet, it was until today it was reported publicly that CySEC extends license suspension of Interactive Option parent firm.
Reasons for Pegase Capital Ltd suspension extension
CySEC’s official announcement conveys a numerable of arguments why the board has decided to continue the license suspension of Pegase Capital Ltd, which are outlined below:
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.
Relating to this particular case, the British Columbia Securities Commission (BCSC) has over recently added the Pegase Capital Ltd to its warning list.
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