Will Pope Francis Soon Warn the Vatican about the Risks of Binary Options?

The MFSA and the Financial Information Authority of The Holy See and Vatican City State sign a memorandum of understanding.

On Thursday May 11th 2017, the Malta Financial Services Authority (MFSA) announced a collaboration between itself and the Financial Information Authority (FIA) of the Holy See and Vatican City State, which included the signing of a Memorandum of Understanding. The document observes the duties and obligations of both parties, but also allows for an exchange of information and assistance, both technical and investigative.

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The collaboration between the two regulators means that they will share warnings about illegitimate financial activities, which is expected to include binary options. This is the direct result of some binary options brokers’ fraudulent conduct towards their clients, which has had harsh consequences in certain countries. France and Canada have announced an all out war on them, issuing bans and warnings upon first contact with such firms.

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