CySEC Extends Suspension of Buzztrade, CFD Royal, Investing Area, Uptrade7

Following a previous announcement by the Cyprus Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term), the Cypriot financial watchdog has issued a further statement today announcing that the authorisation of the Cyprus Investment Firm (CIF) AirFinance Pro Ltd will continue to be suspended until 16th September, 2016.

Suspension extended

As reported by Finance Magnates in June 2016, AirFinance Pro Ltd, formerly known as YTF Trade Ltd, has been the operator behind a number of binary options brands including Buzztrade, CFD Royal, Investing Area and Uptrade7.

The licence of the company was suspended on that date on the grounds of possible non-compliance with the regulatory framework in Cyprus and that the alleged violations by AirFinance may endanger the clients’ interests.

Onboarding of new clients prohibited

While the licence of AirFinance remains suspended the company cannot provide any services, pursuant to the relevant section of the law.

AirFinance must also, if existing clients wish, close all open positions in relation to clients’ contracts on or before their maturity date and return any funds and profits earned.