Written answers
Wednesday, 23 November 2016
Department of Finance
Financial Services Regulation
Michael Fitzmaurice (Roscommon-Galway, Independent)
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79. To ask the Minister for Finance if his attention has been drawn to the fact that binary options trading has been banned in some countries; if his attention has further been drawn to the fact that the other jurisdictions consider binary options to be gambling in disguise, as distinct from trading in regulated assets such as shares and bonds; the steps he has taken to ensure that any such trading is regulated and supervised in the correct way; if all companies engaged in binary options are registered with the Central Bank of Ireland; and if he will make a statement on the matter. [36496/16]
Michael Noonan (Limerick City, Fine Gael)
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The regulation of securities, including binary options, is the responsibility of the Central Bank, working in cooperation with the European Securities and Markets Authority (ESMA).
I am engaging with the Central Bank on this matter, however all the information is not currently to hand. I will forward it to the Deputy as soon as it is available.
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