On 02.07.2019 the FSC adopted a resolution:
As of 03.07.2019 to be suspended on and from the territory of the Republic of Bulgaria the marketing, distribution and sale to retail clients of derivative financial instruments with the following characteristics (binary options):
1. they should be settled or may be settled at the request of one of the parties for reasons other than default or other event leading to termination;
2. provide for payment only on settlement or on expiry of the term;
3. the payment is limited to:
• a preliminary fixed amount or zero if the underlying asset of the derivative meets one or more predefined conditions and
• a preliminary fixed amount or zero if the underlying asset of the derivative does not meet one or more predefined conditions.
Full text of Resolution № 841-ИП/02.07.2019 г.
As of 03.07.2019 to be suspended on and from the territory of the Republic of Bulgaria the marketing, distribution and sale to retail clients of derivative financial instruments with the following characteristics (binary options):
1. they should be settled or may be settled at the request of one of the parties for reasons other than default or other event leading to termination;
2. provide for payment only on settlement or on expiry of the term;
3. the payment is limited to:
• a preliminary fixed amount or zero if the underlying asset of the derivative meets one or more predefined conditions and
• a preliminary fixed amount or zero if the underlying asset of the derivative does not meet one or more predefined conditions.
Full text of Resolution № 841-ИП/02.07.2019 г.