Ban supports efforts to protect Canadians from fraud
Alert outlines common investor complaints
The unregistered firms are alleged to have sold binary options to Ontario investors
Regulator cites online apps from unregistered firms that make misleading statements
The offshore firm involved in the scam used images of a Canadian celebrity to draw victims in
Regulators are seeing significant losses to investors dealing with unregistered binary option companies
Binary options are not problematic, but illegal, offshore firms defrauding investors with binary options trading schemes are, IIAC letter states
The alleged “recovery room” scam targets victims of binary options schemes
The proposal of an explicit ban on binary options doesn’t imply that current offerings of binary options in Canada are legal, the CSA states
The FCAA is warning investors that these types of firms continue to operate and are not registered to do so in the province