FCA plans wider retail ban of CFDs following ESMA proposals
Could reduce annual losses by up to £451m
Christopher Woolard: "We remain very concerned about the harm to retail consumers that's being caused by the design and distribution of some complex derivative products."
The Financial Conduct Authority (FCA) is set to extend the retail market ban of contract for differences (CFDs) and binary options, which was proposed by pan-European regulator ESMA earlier this year, to include "closely substitutable products".
In March, ESMA introduced a number of EU-wide temporary measures for the provision of CFDs, including a ban on the sale or marketing of binary options to retail investors. Following a consultation as...
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