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ASIC Reprimands Regulated & Unregulated Binary Options Brokers & Affiliates

Posted: Tue Jul 05, 2016 10:29 am

The Australian Securities and Investments Commission (ASIC) has become the latest regulator to embark on a crusade against binary options brokerages which are providing their services in the country without authorization. The watchdog has expressed to a number of regulated and unregulated brokerages that they are not allowed to advertise and onboard Australian residents.

ASIC is highlighting in its announcement that the unlicensed client on-boarding and advertising activity of binary options brokers and affiliates in Australia has increased substantially. The watchdog has issued notices to 40 companies which have been engaging in unregulated activities.

In contrast to most regulators that have gone after ... (read more)