Canada explicitly bans binary options
Posted: Sat Sep 30, 2017 9:13 pm
The Canadian Securities Administrators (CSA) – the body unifying all regional financial markets and services regulators – has announced the implementation of Multilateral Instrument 91-102 Prohibition of Binary Options. This makes it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual residing in Canada.
“Binary options are the leading type of investment fraud facing Canadians today, and the impact of this kind of scam on individuals is staggering,” said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers, quoted in a CSA official statement.
“Binary options are the leading type of investment fraud facing Canadians today, and the impact of this kind of scam on individuals is staggering,” said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers, quoted in a CSA official statement.