A press release on the website of the US Commodity Futures Trading Commission (CFTC) detailed that the regulator has amended the charges against Banc De Binary, which it filed for last June, including three affiliates, two of which are incorporated in the Republic of Seychelles – BO Systems Ltd. and BDB Services Ltd., and one in Israel – E.T. Binary Options Ltd.
The regulator stated in its press release that the affiliate companies have been charged with crossing the regulatory ban on offering off-exchange option contracts to US residents and with soliciting, accepting and confirming execution orders from customers based in the US between May 2011 and March 2013. Banc De Binary and the affiliated companies are also faced with charges of operating as unregistered Futures Commission Merchants (FCMs) during the same period.
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Additionally, the CFTC has charged Oren Shabat Laurent as the Controlling Person behind the corporate entity Banc De Binary. The press release stated that all of the above mentioned parties operated as a single enterprise under the trade name “Banc De Binary”.
The regulator is seeking civil monetary penalties, restitution, disgorgement and rescission complemented with a permanent injunction for the Defendants to participate in activities related to commodity options offerings.