Ireland Flexes Regulatory Powers With Binary Option Ban
Law360, London (June 12, 2019, 3:23 PM BST) -- The Central Bank of Ireland moved Wednesday to ban the sale of speculative derivatives called binary options to consumers to protect them from heavy losses once European Union measures lapse, the first time the Irish regulator has outlawed a specific kind of investment product.
The Irish watchdog said that it will permanently ban financial services firms from selling binary options to less-experienced retail investors. Its rules will also prevent consumers from losing more money than they put into contracts for difference products, or CFDs, which are a form of spreadbetting.
The central bank said that its intervention will come into play...
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