The UK’s Financial Conduct Authority (“FCA”) has brought charges against several reality show participants for illegally issuing unauthorised financial promotions. These relate to an investment scheme that provided advice on...more
The European Securities and Markets Authority has announced that it will not again renew its product intervention measure for Contracts for Differences. ESMA's product intervention powers under the Markets in Financial...more
The Financial Conduct Authority (FCA) has released final guidance on cryptoassets in a policy statement that includes feedback from their January consultation paper. It is important to note that the policy statement is of a...more
The European Securities and Markets Authority has published a Statement cautioning contracts for difference providers to comply with its temporary product intervention measure restricting the marketing, distribution or sale...more
The U.K. Financial Conduct Authority has published the Conduct of Business (Contracts for Difference) Instrument 2019, implementing product intervention measures designed to restrict the sale, marketing and distribution of...more
On 3 July 2019, the UK's Financial Conduct Authority published a consultation paper in which it proposed to prohibit the sale to all retail clients of derivatives and Exchange Traded Notes (ETNs) that reference certain types...more
The U.K. Financial Conduct Authority has published a statement on onshoring of the European Securities and Markets Authority's temporary product intervention measures on retail contracts for difference and binary options...more
On 8 November 2018, the Joint Committee of the European Supervisory Authorities (ESAs) published a Consultation Paper concerning amendments to the PRIIPs KID. This follows a letter sent by the ESAs to the European Commission...more
The U.K. Financial Conduct Authority has launched two consultations proposing to prohibit the sale, marketing and distribution of binary options to retail consumers and to restrict the sale, marketing and distribution of...more
The rules will echo ESMA’s temporary measures, however the FCA will extend the CFD restriction to capture closely substitutable products (such as turbo certificates). The FCA has launched two consultations on: ..Banning...more
The regulation of cryptoassets is a question that has been troubling lawmakers and regulators across the globe. This new phenomenon has had a small but significant effect on how financial services function and facilitates new...more
The European Securities and Markets Authority has 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...more
Following its announcement in August 2018, the European Securities and Markets Authority has published notice of the extension of the prohibition on the marketing, distribution and sale of binary options to retail investors...more
The International Organization of Securities Commissions has published a report on retail OTC leveraged products, alongside a statement warning retail investors of the risks of investing in illegal or fraudulent binary...more
U.S. Financial Industry Developments - FINRA Requests Comment on Financial Technology Innovation in the Broker-Dealer Industry - On July 30, 2018, the Financial Industry Regulatory Authority ("FINRA") published a...more
The European Securities and Markets Authority has confirmed that it will use its product intervention powers under the Markets in Financial Instruments Regulation to prohibit the marketing, distribution and sale of binary...more
ESMA to introduce measures to restrict the provision of CFDs, and prohibit the provision of binary options, to retail investors in the EU. The European Securities and Markets Authority (ESMA) has announced the first use of...more
FCA proposes enhanced disclosure requirements for derivatives being marketed to retail investors who may not be aware of the risks. Concerned that more and more retail customers are offering and trading...more