Legal & Regulatory News

The UK Financial Conduct Authority (FCA) is to replace the UK Gambling Commission as the regulator of binary options from next year, and has also issued a warning to customers about the dangers posed by the products.

The regulator said binary options can lead to heavy losses for customers, and noted that such products have also been used to scam individuals out of a total of £59.4m since 2012.

Binary options are currently regulated by the Gambling Commission, but only if the company also offers other forms of gambling. This will change from January 3rd 2018, when all forms of binary options will come under the FCA's remit.

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