Banc De Binary

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Banc De Binary

logo
legal form Private property, limited liability
founding 2009
resolution 2017
Seat Limassol , CyprusCyprus RepublicRepublic of Cyprus 
management Oren Laurent Founder & CEO and Sarah Fenwick, Head Of Communications
Branch Financial services, credit business
Website www.bancdebinary.com

Banc De Binary , based in Cyprus, was a controversial online broker specializing in binary options trading . The Wall Street Journal describes it as a bank that "enables customers to place bets on the price of gold, oil or stocks".

The company returned its trading license in January 2017, avoiding a ban by the regulatory authorities.

history

After graduating in economics at New York University and several years at NAF hedge funds and Infinity Private Investment Funds , founded Oren Laurent Banc De Binary in January 2009 after the Securities and Exchange Commission (SEC) to binary options trading on the stock exchange had allowed. In an interview, Laurent said the financial company had 20,000 customer accounts and in an August 2012 press release he announced that the number of customers had grown to 200,000.

In January 2013, the company was the first OTC broker specializing in binary options to accept regulation by the CySEC in accordance with EU guidelines. At the same time, Banc De Binary also stopped accepting US customer accounts in order to start negotiations with the CFTC to sell binary options in the US. On June 6, 2013, Banc De Binary was accused by the CTFC and the SEC of violating US financial laws. Both institutions brought lawsuits against the company for profit skimming. In addition, financial penalties and other injunctions and injunctions should be imposed. The company is sponsoring Liverpool FC for the 2015/16 season .

regulation

The company is regulated by the Cyprus Securities and Exchange Commission (CySEC). Banc De Binary was licensed as a financial services company by CySEC in January 2013. The UK Financial Conduct Authority's registry states that as of February 25, 2013, the entity that is "authorized or registered by the ... [CySEC] ... may be regulated by the Financial Conduct Authority". The company is also registered in Germany, as well as in Italy, France, and Spain as a financial services and credit company. In accordance with the EU Directive on Financial Instruments (MiFID) , the company is approved in almost all EU member states. According to MiFID, financial services are subject to the rules of the company headquarters and not the laws of the customer's home country.

Business in the USA

On June 6, 2013, Bank was accused by the CTFC and the SEC of violating US financial laws. Both institutions brought lawsuits against the company for profit skimming. In addition, financial penalties and other injunctions and injunctions should be imposed.

Banc De Binary then announced on its website that it would initially not offer any further services in the USA or trades for US citizens. However, one is in talks with the CFTC and SEC.

Institutions for investor protection

Banc De Binary was accredited with the Better Business Bureau in 2010 and has withdrawn its registration because it went out of business in the United States. Prior to that, Banc De Binary had been given an F because it was recently founded and had not responded to 5 out of 11 customer complaints.

Banc De Binary is on a United States Securities and Exchange Commission's warning list for being unregistered and investors have complained.

In Canada, the company is on the Ontario Securities Commission's investor warning list. The institution points out that the bank company conducts business that involves risks for the investor. The Canadian Autorité des marchés financiers (AMF) advises caution.

Web links

Individual evidence

Commons : Banc De Binary  - collection of images, videos and audio files
  1. ^ The next generation of financier . European CEO. January 27, 2013. Archived from the original on September 28, 2013. Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 11, 2013. @1@ 2Template: Webachiv / IABot / www.europeanceo.com
  2. ↑ CEO | Banc De Binary . Oren Laurent. Retrieved August 11, 2013.
  3. ^ Regulators Sue Prediction Site, Allege Illegal Options . Wall Street Journal. Retrieved June 11, 2013.
  4. ↑ Cypriot Banking Authority : ΑΝΑΚΟΙΝΩΣΗ , January 11, 2017
  5. ^ A b Susan Wright: Banc De Binary CEO Oren Laurent Opens Up on Binary Options . Investment underground. May 27, 2013. Archived from the original on August 8, 2013. Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 11, 2013. @1@ 2Template: Webachiv / IABot / investmentunderground.com
  6. ↑ Banc De Binary's CEO Oren Laurent Expresses Sincere Thanks . BinaryOptionsDaily.com. Archived from the original on September 28, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 11, 2013. @1@ 2Template: Webachiv / IABot / www.binaryoptionsdaily.com
  7. ^ A b Regulated Investment Firms - CySEC . CySEC. Archived from the original on August 6, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 11, 2013. @1@ 2Template: Webachiv / IABot / www.cysec.gov.cy
  8. ↑ Banc De Binary is the first binary options broker in EU . Financial Mirror. Retrieved August 11, 2013.
  9. ^ Banc De Binary Quits US (For Now) . BinaryOptions.net. Retrieved August 11, 2013.
  10. ^ SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in US . SEC. Retrieved August 11, 2013.
  11. ^ CFTC Charges "Prediction Market" Proprietor Banc De Binary with Violating the CFTC's Off-Exchange Options Trading Ban and Operating as an Unregistered Futures Commission Merchant . CFTC. Retrieved August 11, 2013.
  12. ↑ Financial Services - Current Figures and News. Accessed January 29, 2016.
  13. ^ Cyprus Securities and Exchange Commission . Cysec.gov.cy. Archived from the original on August 6, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 17, 2013. @1@ 2Template: Webachiv / IABot / www.cysec.gov.cy
  14. ↑ Financial Services Register 2013 . Bank of England Financial Services Register. Jun 2013. Retrieved July 8, 2013.
  15. ↑ BaFin: BaFin - BaFin company database . Portal.mvp.bafin.de. Retrieved August 17, 2013.
  16. ↑ Consob . Consob.it. Archived from the original on September 7, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 17, 2013. @1@ 2Template: Webachiv / IABot / www.consob.it
  17. ↑ fiche agent financier - REGAFI - Registre of agents financiers . Regafi.fr. Retrieved August 17, 2013.
  18. ↑ CNMV - Empresas de servicios de inversión extranjeras en libre prestación . Cnmv.es. January 24, 2013. Retrieved August 17, 2013.
  19. ^ Cypriot Investment Firm offering cross-border services to Member States . CySEC. Archived from the original on August 16, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved August 11, 2013. @1@ 2Template: Webachiv / IABot / www.cysec.gov.cy
  20. ^ Banc De Binary: Gets Charged by the CTFC . ForexMagnates. Retrieved June 19, 2013.
  21. ↑ CTFC files civil suit against Banc De Binary . The Fx View. Retrieved June 19, 2013.
  22. ^ SEC Warns Investors About Binary Options and Charges Cyprus-Based Company with Selling Them Illegally in US . Securities Exchange Commission. Retrieved June 19, 2013.
  23. ^ CFTC Charges "Prediction Market" Proprietor Banc De Binary with Violating the CFTC's Off-Exchange Options Trading Ban and Operating as an Unregistered Futures Commission Merchant . Retrieved June 19, 2013.
  24. ↑ Binary Options Trading Online with Banc De Binary . L.bbinary.com. Archived from the original on August 17, 2013. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved January 25, 2014. @1@ 2Template: Webachiv / IABot / l.bbinary.com
  25. ^ Banc De Binary review . Better Business Bureau. Retrieved August 17, 2013.
  26. ^ Banc De Binary Review - INVESTMENT MANAGEMENT in New York, NY - BBB Business Review - BBB serving Metropolitan New York, Long Island, and the Mid-Hudson Region . Archived from the original on October 8, 2012. Retrieved on August 17, 2013.
  27. ↑ Public Alert: Unregistered Soliciting Entities . Securities and Exchange Commission. Retrieved October 15, 2012.
  28. ^ Investors Warning List . Ontario Securities Commission. Retrieved January 13, 2013.
  29. ↑ Binary options - AMF Cautions About Solicitations by Banc de Binary . Lautorite.qc.ca. August 8, 2013. Retrieved January 25, 2014.