Judge backs ASIC plan to ban OTC binary options as issuers hit with $75M penalty
Angus Christophersen 2020-10-16 4:52 pm Melbourne
Over-the-counter derivative issuers AGM Markets, OT Markets and Oxifin Tech have been ordered to pay a total of $75 million in penalties after a ruling that they engaged in unconscionable conduct causing losses of over $30 million to unsophisticated investors seeking what a judge called “financial heroin hits”.