Canadian financial regulators propose binary options ban

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Canadian Securities Administrators (CSA) have published a proposal calling for the ban of advertising, offering, selling or otherwise trading a binary option to individuals across the country.

Louis Morisset, the chair of the CSA, said, “We are deeply concerned by the increasing number of investor losses and complaints resulting from binary options. The proposed ban is critical to our efforts to help stop binary options fraud in Canada.”

The proposed ban comes after multiple fraudulent binary options schemes have hurt Canadians from across the country.

Binary options are already not allowed in the country, there are no licensed binary options brokers in Canada.

Read more at Leap Rate

This article is summarized by Canadian Fraud News Inc.