FSA pushes forward with CfD disclosure regime

CfDs are instruments favoured by many in volatile markets, as they allow investors to make money on share price movements without actually buying shares. They can be used to take a bet on share prices either rising or falling. Under the new regime, existing share and CfD holdings, in the same company, should be aggregated for disclosure purposes. The disclosure threshold will be at 3pc, in line with existing disclosure rules. The FSA will develop an exemption for CfD writers, who act as intermediaries, similar to the Takeover Panel's Recognised Intermediary exemption to reduce unnece...