A binary option is a call or put option which pays out a fixed amount of money if the underlying asset that is the subject of the option reaches a certain level at the time the option expires. The buyer of the option either receives the fixed amount or nothing 21/6/ · Since the binary options legislation was first introduced to and approved by the Cabinet earlier this week, it goes to the Knesset as a Government Bill, as opposed to a private member’s bill – meaning that a preliminary reading is skipped, and that the bill 31/8/ · Knesset committee to meet next week on bill to ban binary options Among those expected at hearings are government officials as well as binary options
Israel Binary Options law to be brought for first Knesset reading next Monday June 26
Join now to receive first access to our EXCLUSIVE reports and updates. The legislation considers the knesset binary options of a Binary Options brokerage in Israel — whether targeting Israeli or foreign clients — to be a criminal offense punishable by up to two years in prison. The new legislation covers the operation of any part of a Binary Options brokerage: provision of software services required to run a brokerage, provision of payment services for the purposes of binary options trading, the marketing of binary options services, and of course providing any sort of customer service or contact with customers.
The bill was instigated mainly by the regulator ISA and its Chairman Shmuel Hauser. However he has stated that the current law only gave him the authority to stop Binary Options brokers from taking Israel-based clients, knesset binary options, not marketing abroad or even taking clients from abroad.
There have been a number of outright Binary Options fraud cases which Israeli authorities have been able to pursue involving clients from abroad. However fraud is a lot harder to catch and proven than just a pure ban knesset binary options marketing to or taking clients.
The new legislation will formally ban Israel-based Binary Options brokers from taking foreign clients, or marketing or providing other Binary Options related services knesset binary options foreign clients.
Popular landing spots for these companies have included Cyprus, for those handful of brokers which are CySEC regulated, knesset binary options, as well as Bulgaria, Romania, Ukraine and Latvia.
The ISA has also taken steps to tighten its grip on the Forex brokers in the country. The ISA introduced last year a required Forex Dealer license for brokers which take Israeli clients, and has handed out six of the licenses to date. The full text of the bill being sent to the Knesset for first reading next Monday can be seen on the Knesset website here pdf, in Hebrew only.
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, time: 35:12Knesset C'tee approves universal binary options ban - Globes
21/6/ · Since the binary options legislation was first introduced to and approved by the Cabinet earlier this week, it goes to the Knesset as a Government Bill, as opposed to a private member’s bill – meaning that a preliminary reading is skipped, and that the bill 25/10/ · The Knesset on Monday gave final approval to a law that bans firms from selling binary options overseas by online trading, giving market regulators the authority to begin a broad crackdown 31/8/ · Knesset committee to meet next week on bill to ban binary options Among those expected at hearings are government officials as well as binary options
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