Mutual Trust Limited suspended by CySEC

Mutual Trust Limited suspended by CySEC.

The Cyprus Securities and Exchange Commission (CySEC) announced that the license for the provision of administrative services to the Company Mutual Trust Limited suspended that license number 44/196.

Pursuant to section 15(1)(b) of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012, as in force (‘the Law’), as there are suspicions of an alleged violation of section 23(1) of the Law, due to the Company’s possible non compliance, at all times, with the authorization condition provided for in section 7(2) (persons who effectively manage the business) of the Law.

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TechFinancials informs an administrative penalty

By Sums on Thursday,

TechFinancials informs an administrative penalty.

TechFinancials Inc. has issued an administrative penalty of € 10,000, after the supply of binary options trading in Italy.

Supplier of binary platform and operator TechFinancials Inc (LON: TECH), which is currently regulated by the Securities and Cyprus Stock Exchange (CySEC), recent time released the company was issued with a fine Italian financial regulator Commissione Nazionale per le Società e la Borsa (CONSOB). About TechFinancials informs an administrative penalty there was a risk that Consob could conclude that the Company, prior to the authorisation of its subsidiary company, B.O. TradeFinancials Limited, as a regulated broker under the Cyprus Securities and Exchange Commission, provided investment services and activities in Italy in the absence of the required authorisations, and that the maximum penalty for such an offence for which the Company was severally liable was €500,000. The Company is pleased to announce that the administrative sanction procedure is now complete and that the Company is now liable for a total amount of €10,000.

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