Government advances bill banning sale of binary options to foreign clients.

As published in Arutz 7 News – 19/06/17 07:49

 Image credit: Stopfalls.org

The Israeli government on Sunday adopted a draft law banning the country’s firms from selling binary options to clients abroad, after widespread complaints of fraud.

The move comes a year after authorities in Israel banned the sale of binary options to Israeli citizens.

The draft law is to be submitted to the Knesset, where it must pass three readings.

The bill also bans the sale by Israeli firms of financial products if the trader carrying out the transaction is not licensed in the country where the client lives.

Israel Securities Authority Chairman Shmuel Hauser said the sale of binary options was causing huge economic harm to people around the world, and “encouraging anti-Semitism.”

Attorney General Avichai Mandelblit welcomed the adoption of the draft law saying, it was targeting “criminal acts”….>

Are you employed in this field?  Will this affect you?  What are the short and long-term implications for thousands of Olim who work in this field?  What can be done for new olim so that they can learn more Hebrew, learn new skills and become more marketable?

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