Fraudulent binary options firms continue to target Belgian investors despite ban

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The article Fraudulent binary choices companies continue to target Belgian investors despite prohibit appeared initially on FinanceFeeds.

ESMA has obtained merchandise intervention steps regarding binary possibilities, sparking a temporary prohibition in their marketing, distribution or sale, in forms (EU) 2018/795, (EU) 2018/1466, (EU) 2018/2064 and (EU) 2019/509. The temporary prohibition mechanically expired at the conclusion of the day on July 1, 2019.
The FSMA reminds the people that, since August 18, 2016, no investment firm (authorized or not) was permitted to distribute binary options within the territory of Belgium. The entities which are the topic of the warning do not comply with the applicable rules. Consumers who have invested in those firms couldn’t regain their investment. Such activities likely constitute a case of investment fraud.

Belgium’s Financial Services and Markets Authority (FSMA) has previously today issued yet a second warning to the general public from the activities of many entities that are unlawfully offering binary options about the Korean marketplace in the face of a ban on these offers which was set up since August 2016.
FinanceFeeds –

The FSMA thus strongly counsels against responding to any offers of services Produced by the following:
ESMA has been lately trapping a raft of positive remarks regarding the ban on binary options introduced by several NCAs. The most recent authorities to get such a positive opinion contain Cyprus, to say a single (significant ) example.

Because most federal competent authorities (NCAs) have taken permanent national product intervention measures concerning binary choices which are at least as stringent as ESMA’s step, ESMA will not revive its temporary prohibitionthe regulator said.