While Binary Options fraud remains one of the key modern regulatory issues, France AMF Warns Against Binary Options Websites as a part of its regulatory supervision activities. Which websites should you be aware of?
14 December, AtoZForex – The primary financial regulator of France, Autorité des marchés financiers (AMF) continues its crackdown on the unregulated Binary Options operators across the country. In its latest attempt to protect investors’ community, France AMF has issued a warning for the public.
Global Regulators’ Binary Options Crackdown
While Binary Options market remains as one of the most concerning topics for the regulatory bodies all over the world, many of the supervisors have decided to tighten regulations. Moreover, some of them have even banned the Binary Options trading activities altogether.
Despite the consistent efforts from the authorities, Binary Options market is still flourishing with the fraudulent activity. Almost a year ago, French officials have expressed their stringent stance in regards to this risky products.
That time, the local regulators have banned the advertisement for the instrument with leverage higher than 1:20. Since then, the AMF has adopted a very active approach in regards to overseeing and spotting any unauthorized Binary Options activity.
France AMF Warns Against Binary Options Websites
As for the latest warning from AMF, the regulator has issued an announcement to the public. The AMF draws our attention to the several Binary Options market participants that offer Binary Options trading without any authorization to do so.
The warning comes as a part of its periodic publication of the information about websites that are not recommended to deal with. This time, there were three websites under the spotlight:
AMF advised not to have any contact or activity with the abovementioned websites. The regulator highlights that none of them hold a license to do business in France. The official announcement from the AMF states:
“These websites may change very quickly and this list is not intended to be exhaustive.
To ensure that the intermediary offering banking or financial products or services is authorized to operate in France, you can view the register of financial agents (https://www.regafi.fr) or the list of authorised intermediaries in the financial investment advisor (FIA) or participating investment advisor (PIA) categories (https://www.orias.fr/search).”
In addition, the French watchdog has recommended exercising extreme caution while dealing with any unauthorized firm.
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