With a Board decision that was taken on 5th October and announced on 20 October 2015, the Cypriot financial markets regulator CySEC has announced the withdrawal of the suspension of the authorization and thus the effective reinstatement of the normal operation of the Cyprus Investment Firm ‘1 T.C.R. CORP. LTD’. The firm in question, which holds CySEC license with number 237/14 had its license suspended by the watchdog back in July of this year because it was thought to have violated the relevant legislation provisions concerning “persons who effectively direct the business of a CIF”. In its July announcement of the license suspension CySEC maintained that the aforementioned violation “may possibly endanger the company’s clients’ interests and generally the smooth operation of the capital market”.
The lifting of the suspension has occurred because 1 T.C.R. CORP. LTD, which in reality is an off spin of former financial services company 1 Financial ROD Ltd, whose name is in turn thought to be behind several binary options brands such as Tradarea.com, has satisfied CySEC in the sense that it has now complied to all the provisions of the Investment Services and Activities and Regulated Markets Law of 2007 of the Republic of Cyprus.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.