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A settlement of €450,000 has been reached between Limassol based Broker IQ Option Europe Ltd and the Cyprus Securities and Exchange Commission. According to CySEC, the company, IQ Option, failed to apply effective conflict of interest safeguards and to implement rigorous due dilligence procedures which is a violation of regulations 144(Ι)/2017 and 188(Ι)/2007.
The regulator also flagged the inadequate implementation of policies, controls and procedures in relation to record keeping, evaluation, supervision and continuous examination of transactions.
