EU Crackdown Sends Spread Betting Firm's Shares Plunging

Law360, London (February 12, 2019, 8:38 PM GMT) -- Online broker Plus500 Ltd. issued a major profit warning on Tuesday following new European Union regulations that make it harder for some clients to use its trading platforms, leading to a one-third fall of the firm’s market value.

Shares in the online trading platform, which is listed on the London Stock Exchange, fell by more than 30 percent after the company announced that it expected its profits to be "materially lower than current market expectations" following an EU crackdown on high speculative contracts for difference products, or CFDs, which account for a big chunk of its turnover.

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