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The Financial Conduct Authority on Friday issued a list of 94 companies which it autorisierten broker consobat it understood to be offering the products to UK customers without its authorisation. The watchdog took over regulation of binary options from the Gambling Commission on January 3, and continuing to sell binary options trades in the UK without being authorised is now a criminal offence.
While many providers claim to be UK-based, the FCA said it believed many were based overseas and providing false addresses, adding that it would look into taking further action if firms were genuinely operating from within the country. It said autorisierten broker consobat a statement: The FCA is examining each of these firms to determine whether any are genuinely operating from within the UK.
If they are, the FCA will consider taking enforcement action through the courts to stop their illegal activity.
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