Autorite des Marches Financiers (AMF), France’s financial regulatory body, has updated its warning list of websites offering binary options trading without a clearly identified owner.
The 16 new additions to the list are the following:
In its publication the AMF notes that the list is by no means exhaustive, as the websites may change very quickly. The regulator advises investors to check the register of financial agents https://www.regafi.fr, or the list of authorized intermediaries in the categories financial investment adviser or participating investment adviser https://www.orias.fr/search. “If the intermediary in question is not on these lists, we strongly recommend that you should not make use of their services, as they are in breach of the applicable legislation and are not required to comply with basic rules of investor protection, information disclosure and claims handling,” the AMF notes.
AMF’s warning list is being updated on a regular basis as part of the watchdog’s effort to curb the activities of fraudulent sites, which brought the French citizens losses of EUR 4 billion in six years.
In spite the efforts of the regulators, however, the unregulated binary options brokers websites spring up like mushrooms after the rain and successfully defraud gullible members of the public looking for an easy buck, before disappearing.