Binary options asic

Binary options asic

ASIC Regulated Binary Options Brokers. by Benjamin King / updated: September 2, Australia hosts a market that is quite friendly to investors in binary options trading. This is thanks to strict and unyielding government regulations and the lack obstacles faced by traders, even those from other continents /4/1 · ASIC bans the sale of binary options to retail clients ASIC has made a product intervention order banning the issue and distribution of binary options to retail clients. The ban will take effect from Monday 3 May after ASIC found that binary options have resulted in and are likely to result in significant detriment to retail clients Any company, whether based within Australia or otherwise, offering binary options trading to Australian customers, are required to hold an Australian Financial Services Licence. Consumers who want further information about binary option trading can visit ASIC

ASIC bans Binary Options sale to retail clients

ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters. ASIC has released a consultation paper Product intervention: OTC binary options and CFDs CP on proposals to use its product intervention power to address significant detriment to retail clients resulting from over-the-counter OTC binary options and CFDs. A binary option is an 'all or nothing' bet on the outcome of an event.

A CFD is a contract on the difference between binary options asic opening and closing price of an asset. ASIC is concerned that retail investors have suffered, and are likely in future to suffer, binary options asic, significant detriment from binary options and CFDs. A review REP conducted by ASIC in found that:. Complex product features, such as the high leverage offered in CFDs—as high as to-1 for foreign exchange CFDs—or the high likelihood of cumulative losses inherent in binary options, have contributed to retail clients' financial losses and can often be misaligned with their needs, expectations and understanding.

ASIC Commissioner Cathie Armour said, 'For many years ASIC has taken strong action to protect consumers of binary options and CFDs, using the range of regulatory tools available to us.

However, we are concerned that consumers continue to suffer significant harm from trading these products. We believe binary options provide no meaningful investment or economic use, and have product characteristics similar to gambling products,' Commissioner Armour said.

Under Pt 7, binary options asic. On 4 April ASIC published a media release welcoming the approval of new laws to protect financial service consumers binary options asic MR. ASIC also published a media release on 26 June confirming that it initiated consultation on the administration of its new product intervention power refer: MR. ASIC has taken strong action, and applied a range of regulatory tools, to address concerns in relation to binary options and CFDs.

These include:, binary options asic. However, ASIC considers retail clients continue to suffer significant detriment from these products. Find a media release. For journalists. Follow binary options asic on Twitter asicmedia.

You are here: Home About ASIC News centre Find a media release MR ASIC proposes ban on the sale of binary options to retail clients, and restrictions on the sale of CFDs. Find a media release Speeches Articles Key matters For journalists More information.

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The Australian Financial Review

/4/1 · The binary options ban follows an intervention order by ASIC placing conditions on the distribution of CFDs to retail clients from 29 March The intervention order on CFDs will be in effect for 18 months after which time it may be extended or made permanent ASIC Corporations (Product Intervention Order—Binary Options) Instrument / I, Oliver Harvey, delegate of the Australian Securities and Investments Commission, being satisfied that binary options (as defined in the following legislative instrument) are a class ASIC has released a consultation paper Product intervention: OTC binary options and CFDs (CP ) on proposals to use its product intervention power to address significant detriment to retail clients resulting from over-the-counter (OTC) binary options and CFDs. A binary option is an 'all or nothing' bet on the outcome of an event