The Israeli regulator monitors what is happening in the country. And it is no longer just warnings or blacklisting. The first fine of 500,000 shekels (about 130 thousand dollars) was issued to one of the binary options providers for neglecting the laws of Israel.
DGI Media LtdIts CEO and founder, Gabriel Lavi, were sentenced to pay a fine of $130,000, of which $50,000 will be paid by the firm and the remaining $80,000 will be paid by Mr. Lavi. And, of course, Mr. Lavi will not be able to hold such positions for another two years. Again, by court order.
Binary options trading is prohibited in the country. The company, on the other hand, continued to provide services, although its management was well aware that it was violating the law. The company’s turnover was more than $ 2 million per month, so there was an incentive to earn. And the fine – well, as you can see, the amount is simply incomparable with earnings. And even after the entry into force of the amendment to the law, which already allowed the activities of such companies, but with a certain license, the company did not even bother to apply for a license.
The company’s website contains as many as three legal addresses, and in Russia and Germany it is known under the DGImarket brand. com.
