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While generally impugning the sale of binary options through unauthorized mechanisms, the commenters were mixed in their view regarding a complete ban on short-term binary options and made the following comments in that regard.

Some commenters suggested an exception should be made for sophisticated investors and accredited investors. Further, some were of the view that such products should be permitted to be offered to all investors if done so through a registered (or exempt) dealer or, where traded on a recognized exchange or a recognized clearing agency as in the U.

and other jurisdictions. Some commenters were of the view that a more effective approach would be to focus regulatory efforts on the perpetrators of the fraudulent activity involving binary options and not on the financial instrument itself.