The Cypriot financial regulator – Cyprus Securities and Exchange Commission (CySEC) – has announced that it has imposed a fine of EUR 50,000 on the Opteck binary options broker, which is operated by its parent company Centralspot Trading.
The regulator imposed a fine on the broker because he transferred some of his activities to third parties. In some cases, he distorted the qualifications of his employees to clients and potential clients. Employees in the sales department often presented themselves as experienced financial professionals, but this was seldom true.
Source: Finance Magnates
