FCA Permanently Restricts Sale Of Risky CFDs To Halt Losses
Law360, London (July 1, 2019, 2:57 PM BST) -- The Financial Conduct Authority said on Monday it is imposing permanent restrictions on the sale and marketing of a risky speculative financial product to help protect retail investors, who are losing up to £450 million ($570 million) a year on the trades.
The City watchdog confirmed that restrictions will apply from Aug. 1 on how online traders sell contract-for-difference products, a form of spreadbetting, to inexperienced consumers. The FCA wants to root out poor conduct, including aggressive marketing by traders, that it has identified in the market.
Online trading platforms will be required to establish measures to limit the leverage available...
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