Israeli Government Expected to Pass New Binary Options Law Next Week

Binary options are under the spotlight of Israeli authorities once more. On Sunday, June 18th 2017, the Minister of Finance, Moshe Kachlon, will present an amendment to the securities law in the upcoming government meeting. The governmental bodies that have worked on the proposition are the Ministry of Finance, the government’s legal advisor, the Israeli Securities Authority (ISA), and the consultation and legislation department in the Ministry of Law.

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If the law passes the first and second reading in the Israeli parliament, Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term companies from Israel will be forbidden from offering their services to clients living abroad. Binary options operations within Israel were banned by the ISA about a year ago, as the regulatory body's stance on the matter equates this type of online trading to gambling.

Until now, binary options brokers dealing with clients living outside of Israel have been legally able to operate without any sort of authorization or Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term. Recently, the ISA, among other local authorities, received numerous complaints regarding the financial losses of clients from countries around the world who have traded with Israeli companies. A large number of these companies were offering binary options trading.

According to the ISA, the phenomenon has had a tremendously negative effect both on individual clients and the image of the country of Israel and its financial market. Assuming the law passes, any breach will be equated to money laundering, as criminals might be using the platforms for illegal activities.

After the expected approval, companies or individuals found in violation of the law will face various sanctions, including a one year prison sentence.

Recently, Finance Magnates reported that Professor Shmuel Hauser, Head of the Israeli Securities Authority (ISA), had compared the binary options industry to blood diamonds, due to the high number of clients falling victim to scams.

The announcement regarding the grim future of binary options was released back in February earlier this year.