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FCA takes a “name and shame” action against unregulated binary options firms

“The FCA reiterates its warning about binary options scams and the high risks associated with trading binary options” reports financefeeds.com. Effective January 3, 2018, individual complaints regarding binary options can be referred to the Financial Ombudsman Service and clients of binary options firms have access to the Financial Services Compensation Scheme.In its first move as a regulator of this market segment, the FCA has published a list of unregulated binary options firms that target UK investors.At the end of October, the UK High Court wound up binary options scam firms behind Magnum Options, following an investigation by the Insolvency Service.And in November 2017, the UK Insolvency Service announced that two binary options firms – Right Corp Limited and Curve Point Limited, had been placed in provisional liquidation.
 
Source: financefeeds.com



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