Financial Services Regulation

Dáil Éireann Debate, Wednesday - 23 November 2016

Wednesday, 23 November 2016

Questions (79)

Michael Fitzmaurice

Question:

79. Deputy Michael Fitzmaurice asked the Minister for Finance if his attention has been drawn to the fact that binary options trading has been banned in some countries; if his attention has further been drawn to the fact that the other jurisdictions consider binary options to be gambling in disguise, as distinct from trading in regulated assets such as shares and bonds; the steps he has taken to ensure that any such trading is regulated and supervised in the correct way; if all companies engaged in binary options are registered with the Central Bank of Ireland; and if he will make a statement on the matter. [36496/16]

Written answers

Minister for Finance

The regulation of securities, including binary options, is the responsibility of the Central Bank, working in cooperation with the European Securities and Markets Authority (ESMA).  

I am engaging with the Central Bank on this matter, however all the information is not currently to hand. I will forward it to the Deputy as soon as it is available.

The referred reply under Standing Order 42A was forwarded to the Deputy.