Page 626 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

alleged that that money was used to fund their lifestyles, rather than the binary options
investments that were advertised. They were each charged with offences under the

Financial Services and Markets Act 2000, the Proceeds of Crime Act 2002 and an

offence of conspiracy to defraud contrary to common law.

In May 2022, Reuben Akpojaro, who also worked at Bespoke Markets Group,

was charged with the same offences relating to the scheme.

Last month, a further charge was brought against Raheel Mirza and a fifth

individual, Taheer Sardar, for perverting the course of justice relating to the FCA’s

investigation. The FCA alleges that between 31 July 2022 and the 1 October 2022, the

two men created a false document to influence the case. This was adjourned until 16

November 2022 for a Plea and Trial Preparation Hearing.

Binary options are a high-risk‘all-or-nothing’type of investment, which have

been banned for retail use since 2019. The investor will attempt to predict whether an
event will happen or not. If they win, they’ll see a return, but if they’re wrong, they’ll

lose all their investment.

As part of the FCA's 3-year strategy, the regulator is committed to reducing and

preventing conduct that can cause serious harm. The FCA recently announced that it

had placed restrictions on twice as many firms in the investment market compared to

last year.

Notes to editors

Binary options are a form of fixed odds betting which is now banned in the UK.

Under Section 19 of the Financial Services and Markets Act 2000 (FSMA), a

person cannot carry on a regulated activity in the UK unless they are FCA authorised

or exempt. Any person who breaches Section 19 of FSMA is committing a criminal
offence for which the maximum sentence is two years’ imprisonment.

Money laundering under the Proceeds of Crime Act 2002 is a criminal offence

punishable on conviction by a fine and / or up to 14 years’ imprisonment.

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