SEC sanctions offshore binary options trading firm

first_img Australian court finds against binary options firm Facebook LinkedIn Twitter Related news The U.S. Securities and Exchange Commission (SEC) has sanctioned Israel-based EZTD Inc., an offshore binary options trading firm, and ordered it to pay more than US$1.7 million for “misleading investors into trading binary options over the internet.” ETZD has agreed to forfeit approximately US$1.5 million in revenue obtained from U.S. customers and pay a US$200,000 penalty. It also no longer sells binary options in the U.S. market. The firm, which was not registered, failed to disclose that investors are much more likely to lose money, rather than to earn money, trading on its platforms, according to the SEC’s order. In addition, the SEC notes that less than 3% of the approximately 4,000 U.S. investors that opened accounts with the firm generated any profits. “EZTD’s revenue was largely derived from customer trading losses, yet EZTD emphasized the profitability of trading in binary options,” says Stephanie Avakian, deputy director of the SEC’s division of enforcement, in a statement. “Companies dealing in binary options must disclose more than general statements about investment risk so investors in these instruments understand that the odds are stacked against them.” The SEC also warned that there may be other firms out there committing similar violations and issued an investor alert warning about the risk of dealing with unregistered, offshore firms, and detailing red flags that may signal binary options fraud. “We continue to receive numerous investor complaints involving binary options websites,” says Lori Schock, director of the SEC’s Office of Investor Education and Advocacy, in a statement. “If you have trouble withdrawing your money from an online binary options trading platform, be aware that you may be the victim of a scam and should not give the platform any more money.” Canadian regulators also have repeatedly issued their own warnings about unregistered binary options trading firms soliciting investors here. Aussies join binary options bancenter_img OSC sanctions binary options enabler Keywords Binary optionsCompanies Securities and Exchange Commission Share this article and your comments with peers on social media James Langton last_img read more

2019 AITEO Cup Final: Ibrahim Musa Admits Kano Pillars Have No Time For Celebrations…

first_imgKADUNA – Kano Pillars head coach Ibrahim Musa has warned his players to not over celebrate their “historical” triumph in the 2019 Aiteo Cup to be ready for the August 10 clash against Ghanaian powerhouses Asante Kotoko in the preliminary first round of the CAF Champions League (CCL).Musa led Pillars to a maiden Aiteo Cup trophy at the third time of asking after the Sai Masu Gida had fallen short against El Kanemi Warriors in 1991 and against Rangers in 2018.Sunday’s 4-3 penalty shootout win over fellow northerners Niger Tornadoes at the Ahmadu Bello Stadium, Kaduna, represented the first time a team from Kano would be hoisting the trophy after Kano XI’s triumph sixty-six years ago in 1953.And Musa, a Kano native who was also in charge when Pillars gave up a three-goal lead to lose the 2018 final couldn’t hide his joy of being the first to win the Aiteo Cup for his hometown club declaring his team “the happiest men in Nigeria’s football history” for their “historical”  feat.“It’s historical for me,” Musa told on finally landing the Aiteo Cup.“The last time Kano won this trophy was over sixty years ago. It has not been an easy journey; it’s a long journey. So, today we are the happiest men in Nigeria’s football history because back then they was no Kano [State], it was the Northern Region, sixty-six years ago.“So, we will be the first people to win this trophy for our State, so, we are happy and I can’t express how happy I am for now.”Despite acknowledging the special nature of his side’s achievement in winning the 2019 Aiteo Cup, Musa already has his eyes set on the next challenge for his team and has called for muted celebrations from his players so they don’t get carried away ahead of their all-important clash against the Porcupine Warriors at the Sani Abacha Stadium in two weeks time.Musa hopes that rather than make them rest on their oars, the Aiteo Cup win can instead, spur his players to defeat 24-time Ghana Premier League champions and two-time CAF champions league winners Asante Kotoko on the 10th of August and put themselves in good stead to progress to the next round on their return to the Champions League for the first time since 2015.   “Notwithstanding [our victory in the 2019 Aiteo Cup], we have another task ahead of us on the continent. So, I hope we will not get carried away by these celebrations and lose the concentration that [we need] to face a big team which have big history in African football. “Asante Kotoko are two-time champions, they’re the oldest team so I hope this winning will push us to face them in Kano to beat them so when we go back to Ghana anything can happen.”Related2019 AITEO Cup Final: Kano Pillars Coach Musa Reveals State of Mind as Match Progressed to Penalties (AUDIO)July 29, 2019In “Federation Cup”2019 AITEO Cup Final: Kano Pillars Coach Ibrahim Musa Reveals Measures to Forestall Asaba Repeat (AUDIO)July 28, 2019In “Federation Cup”NPFL: Ibrahim Musa Extends Pillars Deal, Aims For League And Cup Double (AUDIO)September 3, 2019In “NPFl”last_img read more