Top news of the day, May 26
1. Binary options – potential changes in regulation.
At present binary options are regulated by the UK’s Gambling Commission, but only if the firm has remote gambling equipment located in Britain.
If this is not the case, any binary options that the firm offers will not be regulated either by the Gambling Commission or by us, the FCA. However, other European Union (EU) countries consider binary options to be a financial, rather than a gambling product.
2. The Bank of Israel Monetary Committee headed by Governor Dr. Karnit Flug has kept the interest rate for June unchanged at 0.1%. The Bank of Israel lowered the rate by 15 basis points to its historic low of 0.1% for March.
3. Last week’s record £284.4m penalty imposed on Barclays for its part in the foreign exchange rate rigging scandal came just weeks after a £226.8m fine on Deutsche Bank
The Financial Conduct Authority’s income from fines is set to fall short of a record for the first time since 2011, despite announcing two of the three biggest penalties ever imposed on financial firms operating in Britain within the past month.
4. Internet retailer Amazon.com Inc.’s (AMZN.O) main German operating unit paid just 11.9 million euros ($16 million) in tax in 2014, despite the group recording $11.9 billion in sales to German customers last year, regulatory filings show.
5. A leading barrister, Charles Bear QC, has raised more questions about the Bank of England‘s record on internal investigations – undermining the bank’s credibility on the Forex and other international scandals.
By OneStopBrokers
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Top news of the day, May 27
