The corporate regulator intends to extend a ban on sales of “binary options” to retail investors for the rest of the decade.
The Australian Securities and Investments Commission used its product intervention power last year to ban the product – a leveraged, speculative derivative that provides an all-or-nothing payoff depending on the price of an asset at some date in the future – in the retail market.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
