Quebec’s financial regulatory body, the Autorite des Marches Financiers (AMF), said on Wednesday it has proposed the formal prohibition of the sale of binary options to citizens in the province. This makes Quebec the first province in Canada to officially consider the ban on such instruments.
“The Authority is concerned by the growing number of complaints received regarding the trading of products commonly called “binary options”, whichare offered illegally to retail customers in Quebec via unauthorized on-line trading platforms,” the Quebec watchdog said in a notice.
The AMF is working on a draft project with which it would amend the derivatives regulation. The draft also offers other measures concerning the identification of hedgers and the delivery of financial statements.
Full article below, but 2017 is looking like the year we see some actual action.https://smnweekly.com/2017/02/02/quebec-set-to-become-first-canadian-province-to-ban-binary-options/