ESMA Seeks Consumer Response On Risky Investments Ban

Law360, London (October 1, 2019, 1:06 PM BST) -- Europe’s top securities watchdog has asked investors to tell it how they have been hit by the recent clampdown on risky financial products, which have been compared to gambling.

The European Securities and Markets Authority announced a public consultation Monday on its temporary bans on binary options and contracts for difference, financial products that allow investors to bet on swings in the market.

The European Commission, the European Union's executive arm, has asked ESMA to establish what consumers and their institutions think of the bans and their practical effect on the market. The securities watchdog, which has set a Nov. 4. deadline...

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