The Financial Markets Authority ( FMA ) in New Zealand has declared that businesses trading short - duration derivatives will need to be licensed . The products , which include binary options and swap - for - swap , pose potential risks to traders , leading the FMA to introduce the legislation . From December 2017, any company marketing instruments to New Zealanders that settle within 3 days, whether they are based there or abroad, will require a licence. The FMA has said it has received a “ steady volume ” of complaints about short - term forex derivatives and other similar products . The FMA 's director of regulation , Liam Mason , 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 . "
The Financial Markets Authority ( FMA ) in New Zealand has declared that businesses trading short - duration derivatives will need to be licensed . The products , which include binary options and swap - for - swap , 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 derivatives and other similar products . The FMA 's director of regulation , Liam Mason , 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 . "