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ARTICLE · 10 OCTOBER 2018

EU Contracts For Difference Product Intervention Measures To Be Extended

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On September 28, 2018, ESMA announced that its various restrictions on the sale, distribution and marketing of Contracts for Difference ...

European UnionCorporate/Commercial Law
A&O Shearman
A&O Shearman
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On September 28, 2018, ESMA announced that its various restrictions on the sale, distribution and marketing of Contracts for Difference to retail investors will be extended from November 1, 2018 for a further three months.

ESMA adopted two temporary product intervention Decisions under the Markets in Financial Instruments Regulation in June this year, one relating to binary options and another to CFDs. ESMA has powers under MiFIR to impose prohibitions or restrictions on certain financial instruments, financial activities or practices to address a significant investor protection concern in the Union. Product intervention measures imposed by ESMA under MiFIR must be reviewed at appropriate intervals and at least every three months. If a measure is not renewed after three months, it will expire and it would then fall to member states to impose similar restrictions at a national level, if they so wish. The U.K. FCA is expected to consult before the end of the year on

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