Several unlicensed Binary Options websites in France has been unmasked by French financial regulator, AMF. Notably, this is the second warning from AMF in two days.
29 June, AtoZForex – Just yesterday, AtoZForex reported that French financial regulator has warned the public against a number of Forex websites with no registration. The Autorité des marchés financiers (AMF) has stated that these websites have appeared to offer investment services without any registration on French Forex market.
AMF warns against unlicensed Binary Options websites in France
Today, AMF has issued another warning. This time, the AMF has warned French investors against dealing with a number of unregulated Binary Options websites in France. Specifically, the official warning from the regulator has stated:
The AMF is publishing a list of new websites offering binary options trading, for which no authorized investment services provider could be clearly identified. Here is the list of new websites recently identified:
The watchdog highlights that these websites can change their names very quickly. Thus, this list is not intended to be exhaustive.
AMF has been pretty active in targeting the firms with no regulation in France. As the part of its regulatory activities, earlier in March, French watchdog has warned investors’ community against 10 different Binary Options websites.
In the end of March, the supervisor of financial markets in France has added 10 new websites to its list of firms that are providing the services illegally. Moreover, a list of all unauthorized sites to offer to trade Binary Options is available on the AMF’s website. The March addition to the list comes as follows:
Specifically, the regulator stated that it has recently identified the above-listed websites as unregulated.
In addition, earlier this year the AMF has stated that all online promotions of Forex and Binary Options will be banned. Yet, the firms will still be able to advertise CFDs, if they meet certain requirements.
It is almost two month now since the French regulator AMF has established a ban on the promotion of the Binary Options and other high-risk financial products. Moreover, this measure has been included into Sapin II framework.
Yet, the effect of the new regulatory norms is not spread. Especially since the new law provides some room for sponsorship deals with Binary Options brands. Thus, some of the firms are already utilizing this opportunity.
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