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Cyprus authorities fine TechFinancials over regulatory breaches

11th July 2016 7:43 am GMT

Shares in binary options provider TechFinancials fell by 9 per cent in London Friday after the company disclosed that its subsidiary had been fined by the Cyprus Securities and Exchange Commission (CySEC) over certain regulatory breaches.

The company said that B.O.TradeFinancials, its Cyprus-based subsidiary which operates the OptionFair trading platform, had been fined €138,000 by the country’s regulator.

The fine was disclosed as a contingent liability in its 2015 preliminary results, announced [...]

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