The brands TopOption and Dragon Options met the capital adequacy requirements in a very short time.
Just a couple of days were enough for a group of companies Leadtrade Ltd and Dragon Options Ltd. to correct the shortcomings indicated by the Cyprus financial regulator and restore the validity of their licenses.
On the previous Friday (March 31) the Cyprus Securities and Exchange Commission (CySEC) published a message on the suspension of license number 296/16 issued earlier to brokerage group Leadtrade, which includes such online brands like Topoption, Exellence Option, PrestigeOption and PlatiniumOption. Now, the license of the Leadtrade GC was restored due to the correction of violations of the Law. The same thing happened in the case of license number 223/14 issued in January 2011, to the company Dragon Options Ltd, which includes the same online brand and also the brand Taotrade.
Earlier, the regulator stressed that violations of these two articles (Article 67 “Own funds” and Article 92-1 “Capital adequacy ratio”) should be eliminated within 10 days, and until then companies and their brands were forbidden to “enter into a business relationship with any person and take upon any new client.”