FMA ( The Financial Markets Authority ) in New Zealand’s has declared that businesses selling short-duration derivatives will need to be licensed. The products, which include binary options and contracts-for-difference, pose potential risks to traders, leading the FMA to introduce the legislation. The FMA has said it has received a “steady volume” of complaints about short-term forex trading and other similar products. The New Zealand regulators have been stepping up their resistance to these registrations over time and narrowing the requirements to succeed in joining the FSPR. The FMA 's director of regulation, Sophie Gerber , commented: " About 40% of the complaints we receive are about unlicensed derivatives issuers, and a common theme is that people have difficulty in getting their money back."
FMA ( The Financial Markets Authority ) in New Zealand’s has declared that businesses selling short-duration derivatives will need to be licensed. The products, which include binary options and contracts-for-difference, pose potential risks to traders, leading the FMA to introduce the legislation. The FMA has said it has received a “steady volume” of complaints about short-term forex trading and other similar products. The FMA 's director of regulation, Sophie Gerber , commented: " About 40% of the complaints we receive are about unlicensed derivatives issuers, and a common theme is that people have difficulty in getting their money back."