French Authorities to Engage With CySEC to Tackle Forex & Binary Scams

[kreslik.news]

Yesterday the AMF, the Paris prosecutor’s office, the French Competition and Consumer Fraud Authority and the French Prudential Supervisory Authority which is an independent administrative authority operating under the umbrella of the French central bank have pledged to reign in the “fraudulent practices targeting French consumers of financial services”.

The authorities have jointly come to the conclusion that existing practices in the forex and binary options industries have led to an outbreak of nothing less than financial fraud. The French regulatory authorities are jointly pressing for tighter standards when regulating these products and will be joining the Cyprus Securities and Exchange ... (read more)