The FIN-FSA’s decision to prohibit the marketing, distribution and sales of binary options to retail clients
FIN-FSA’s decision No. FIVA 5/02.05.21/2019
By virtue of Article 42 of the Markets in Financial Instruments Regulation, the Financial Supervisory Authority (FIN-FSA) has decided to prohibit the marketing, distribution and sales of binary options to retail clients. The purpose of the decision is to transpose into national law a prohibition against the marketing, distribution and sales of binary options similar to that in force in the EU until 1 July* 2019 by virtue of the decision of the European Securities and Markets Authority (ESMA).
Availability of the decision
The decision is available on the website www.finanssivalvonta.fi, and on the premises of the FIN-FSA, Snellmaninkatu 6, Helsinki, until 28 June 2019.
A notice of the availability of the decision will be published on 7 June 2019 in the Official Gazette and in the newspapers Helsingin Sanomat and Hufvudstadsbladet.
This decision may be appealed to the Helsinki Administrative Court within 30 days from receipt of notice of the decision. More detailed instructions for lodging appeal are provided in the appeal instructions appended to the decision. By virtue of section 62 of the Administrative Procedures Act (434/2003), service of the decision is considered to have been effected to all parties involved on the seventh day after publication of the notice in the Official Gazette.
Jyrki Manninen, tel. +358 9 183 5205
Helsinki, 7 June 2019
Financial Supervisory Authority
Decision (in Finnish, pdf)
The corresponding Finnish-language public notice was published on 7 June 2019.
*) Corrected on 18 June 2019 (June -> July)