The Canadian Securities Administrators announced Thursday they have banned short-term binary options, which have generated hundreds of complaints. The CSA's ban makes it illegal to market, set or trade in binary options shorter than 30 days. Binary options, which are legal in some places, are an all-or-nothing bet on the performance of an asset, such as a currency, a commodity, stock index or share, the CAS. Last year, securities regulators across the country received more than 800 complaints about binary options scams. The regulatory group is also encouraging anyone who has invested with an offshore binary option trading platform to immediately contact their provincial or territorial securities regulator.

Source: CBC News September 28, 2017 20:03 UTC