SEC Targets Cyprus and Israel 'Binary Options' Dealer

Law360, New York (June 6, 2013, 7:50 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday sued a Cypriot and Israeli investment firm in Nevada federal court alleging it illegally sold unregistered derivatives known as binary options to U.S. investors.

The SEC alleges that Banc de Binary Ltd. has offered and sold binary options to investors without registering the securities as required by federal law, according to an agency statement released on Thursday.

“Banc de Binary offered and sold, and continues to offer and sell, these securities to U.S. investors in unregistered transactions through...
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