CySEC fined Rodeler Ltd. (24option) 156 thousand euros

A lot of people rememberIt was reported that one of the companies that submitted documents to the Bank of Russia for a dealer license was Rodeler RU, a member of the Rodeler group of companies and owner of the popular 24option brand. Today, the Cypriot regulator was dissatisfied with the work of Rodeler Ltd.

CySEC fined 24option 156 thousand euros

In addition to 24option, which provides financial services in the binary options market, the Rodeler group of companies combines such brands as GrandOption, 24FX, QuickOption.

27 января кипрская компания Rodeler Ltd. была оштрафована Комиссией по ценным бумагам и биржам (CySEC) на 156 тыс. евро за нарушение Закона о компаниях Республики Кипр (CIF). В списке нарушений числятся недостаточные усилия компании в ходе сбора информации о финансовой грамотности своих потенциальных клиентов (самое серьезное обвинение и крупный штраф — 40 тыс. евро), что говорит о том, что клиентам могли предлагать продукты, им неподходящие, или не сообщалось о рисках, которые несут в себе те или иные финансовые операции.

It is also noted that the information contained in the company's promotional materials was ambiguous and misled customers. In addition, the necessary records of incoming customer complaints and measures to address them were not maintained.

The amount of the fine was later adjusted CySECas the offender, Rodeler Ltd, hurriedly eliminated the identified violations and adjusted its activities to comply with the laws of Cyprus. Among other things, the company has revised the design of its advertising materials, strengthened its customer service, and taken into account a host of other comments from the regulator.

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