{"id":3598,"date":"2016-03-09T18:50:59","date_gmt":"2016-03-10T00:50:59","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/?p=3598"},"modified":"2022-04-04T12:45:53","modified_gmt":"2022-04-04T17:45:53","slug":"banc-de-binary-to-settle-charg","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/banc-de-binary-to-settle-charg\/","title":{"rendered":"Banc de Binary to Settle Fraud Charges With SEC, CFTC for $11M"},"content":{"rendered":"

Banc de Binary Ltd. has settled a fraud lawsuit by the Commodity Futures Trading Commission and the SEC accusing the Cypriot financial trading company of illegally signing American investors to join its binary options trading program. According to the regulators, from 2011 and 2013, Banc de Binary pursued and took orders from U.S. customers on contracts connected to currency, commodity, and stock prices. By doing this, the company purportedly got around a ban in the US that prohibited off-exchange binary option contracts and received net deposits of $11M from over 6,000 U.S. customers<\/p>\n

As part of the settlement, the financial trading company has agreed to pay $7.1M in disgorgement and restitution and $2M in penalties to the CFTC. It will pay the SEC $1.95M in civil penalties. $9.05M of the settlement will go toward paying back the U.S. customers who suffered harm in this matter. Oren Laurent, who is the founder of Banc de Binary, will pay $150K in the settlement.<\/p>\n

Banc de Binary is considered the biggest binary options operator. Binary options offer all or nothing payouts according to price moves. They remain unregulated in a lot of the world.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Banc de Binary Ltd. has settled a fraud lawsuit by the Commodity Futures Trading Commission and the SEC accusing the Cypriot financial trading company of illegally signing American investors to join its binary options trading program. According to the regulators, from 2011 and 2013, Banc de Binary pursued and took orders from U.S. customers on […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810,3760,3741],"tags":[3594,3595],"class_list":["post-3598","post","type-post","status-publish","format-standard","hentry","category-cftc","category-sec-enforcement","category-securities-fraud","tag-banc-de-binary","tag-vision-financial-partners"],"yoast_head":"\nBanc de Binary to Settle Fraud Charges With SEC, CFTC for $11M — Investor Lawyers Blog — March 9, 2016<\/title>\n<meta name=\"description\" content=\"Banc de Binary Ltd. has settled a fraud lawsuit by the Commodity Futures Trading Commission and the SEC accusing the Cypriot financial trading company of — March 9, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, 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