The new ruling will determine the future of online trading in Israel.
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.
If the law passes the first and second reading in the Israeli parliament, Online Trading 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. 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.
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.
If the law passes the first and second reading in the Israeli parliament, Online Trading 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. 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.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!