FCA Slaps Permanent Ban On Sale Of Risky Binary Options
Law360, London (March 29, 2019, 12:43 PM GMT) -- British companies are being permanently barred from selling a speculative derivatives product, the Financial Conduct Authority said Friday, as it seeks to save retail consumers up to £17 million ($22 million) a year and stamp out poor conduct at firms that sell them.
The City watchdog has permanently banned online trading companies from selling, marketing or distributing binary options to retail consumers. The FCA hopes the rule, which takes effect on Tuesday, will tackle concerns in the market about risks consumers face when they invest in the risky products.
The FCA also wants to root out the poor conduct, including aggressive marketing...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!