8/8/ · Biton was speaking at a Knesset panel discussing the draft bill banning the offering of binary options to clients abroad and accepting foreign clients by Israeli brokers. The bill is due to be passed by the Knesset next Monday, local media report 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 10/24/ · Israel’s parliament, the Knesset has finally passed the law banning the binary options industry, reports The Times of Israel. By a vote of , the member legislature forbade the industry to operate from within the country and offer its products abroad
Knesset votes to ban binary options industry - The Jerusalem Post
The Knesset Reforms Committee, chaired by MK Rachel Azaria, approved a bill today submitted by the Ministry of Finance and the Israel Securities Authority ISA amending the Securities Law so as to forbid trading arenas operating from Israel from offering trading in binary options to any customers, whether in Israel or abroad.
The amendment bill will now go to the Knesset plenum for second and third readings and will come into force three months from the day it is published in the Official Gazette. 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. The binary options industry has gradually been exposed in the past few years, and what came to light alarmed the ISA. The scandals, some of them exposed in a series of articles in "Globes", include confessions of former workers in this area of knesset binary options working practices, such as being paid monthly salaries of tens and even hundreds of thousands of shekels to tempt investors to transfer their money to the companies they worked for, when they knew that the customers would lose all.
As the complaints grew, knesset binary options, the ISA campaigned to eliminate the binary options industry, and forbade the marketing of knesset binary options options to customers in Israel. The closure of the Israeli market, however, led the companies involved to focus on customers outside the country.
Complaints started to pile up at the ISA and with local police forces from foreign investors alleging that they had been knesset binary options out of hundreds of thousands of dollars or euros that were transferred to Israeli companies and disappeared. The new bill gives the ISA certain enforcement powers in relation to trading arenas that operate from Israel but target only customers outside of Israel, knesset binary options. It forbids such arenas to offer overseas customers trading in binary options, and knesset binary options that to do so will be considered a source offense under the Prohibition of Money Laundering Law.
This is because of the criminal characteristics that tend to be associated with such trading. In the Reforms Committee's sessions on the bill in the past two weeks the positions of both the law's supporters and its opponents were heard.
Superintendent Gabi Biton, who commands the Israel Police Money Laundering Task Force, said in his appearance before the committee, "In the past few years the phenomenon has become a monster, knesset binary options. There is huge movement of criminal elements from one kind of activity to another, and they have come to this as well. Crime organizations involved in this area are enriching themselves massively. Representatives of the companies operating binary options trading also appeared before the committee, and argued that the cases of fraud were a matter of "rotten apples" and did not reflect binary options trading in general.
They said that the bill would have a disproportionate effect on Israeli trading and knesset binary options companies. ISA chairman Shmuel Hauser said after the committee approved the bill, knesset binary options, "Beyond the severe financial impact on people all over the world, the trading arenas that offer binary options cause appalling and growing damage to Israel's image and sow animosity towards Jews in general and Israelis in particular.
The law will enable the ISA to act in an unprecedented fashion against those who operate vis-a-vis foreign customers, and provides both civil remedies and criminal sanctions, up to and including prison sentences. Published by Globes [online], Israel business news - www.
com - on August 7, Knesset C'tee approves universal binary options ban. Ela Levi-Weinrib. The amendment to the Securities Law that will now go to the Knesset plenum provides both civil remedies and criminal sanctions, knesset binary options.
More suits filed against Israeli binary options cos. Israeli binary options co sued for NIS 36m fraud. ISA chief: Binary options are like blood diamonds. Binary options staff fired as company exits Israel.
Court backs Securities Authority binary options ban. Binary options Photo: Shutterstock, knesset binary options. Twitter Facebook Linkedin RSS Newsletters ����� Israel Business Conference
Reactions to Knesset hearing on binary options fraud
, time: 2:41Israel bans binary options industry that defrauded millions - Business - blogger.com
4/6/ · You can use a knesset binary options India debit card, bank transfer, paper check, or wire transfer to make your deposit. Most exchanges allow you to set a stop loss that will automatically exit a trade at a given price level 10/24/ · Israel’s parliament, the Knesset has finally passed the law banning the binary options industry, reports The Times of Israel. By a vote of , the member legislature forbade the industry to operate from within the country and offer its products abroad Binary Options Knesset Types Demo. It creates a place for traders to practice their trading knowledge. If you use your knowledge well, you can make a huge Binary Options Knesset profit. However, it would be reasonable that if you are not successful in trading in your demo account, you would Binary Options Knesset not be able to win in your real/10()
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