MAP S.Platis is proud to announce a unique European regulatory success in the fast-growing industry of online Binary Options trading! A success which will undoubtedly contribute radically to the development and further growth of the industry! Specifically, MAP S.Platis through its nearly 2-year efforts have secured an official announcement by the Cyprus Securities and Exchange Commission (CySEC) to confirm the regulatory coverage of on-line Binary Options Brokerages who operate from the Republic of Cyprus.
As part of the continuing efforts of MAP S.Platis to develop, support and assist with the better interpretation of the regulatory framework in which EU Investment Firms operate, our firm’s compliance teams in October 2010 initialised research, consultation and discussions with the relevant European regulatory bodies as well as with the European Commission with respect to the regulatory treatment of Over-The-Counter Binary Options.
Following our consistent and persistent efforts, our teams have secured an official response by the European Commission in December 2011 which confirms that online Binary Options Brokerages should be fully regulated under MiFID in their respective jurisdictions. In light of this, our teams have promoted and supported this matter over the last 5 months through communication with, as well as publications and distribution of technical reports to, EU regulatory authorities.
As a result of the above, CySEC has officially announced today, 03/05/2012, that Investment Services with respect to Binary Options fall within MiFID and are supervised by CySEC.
In this respect, we confirm that our specialised teams are ready and available to welcome requests for the licensing of on-line Binary Options Brokerage Firms under CySEC, whilst we also confirm that we have 3 CySEC licence applications in progress.