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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
11/06/2020 ESMA71-99-1342 Decision Short Selling Reporting Renewal Statement , , , Press Release PDF
83.55 KB
03/06/2020 ESMA71-99-1334 ESMA consults on cloud outsourcing guidelines Press Release PDF
95.46 KB
15/04/2020 ESMA71-99-1318 ESMA issues positive opinions on short selling bans by 5 jurisdictions , , , Press Release PDF
114.75 KB
16/03/2020 ESMA71-99-1291 ESMA requires net short position holders to report positions of 0.1% and above , , , Press Release PDF
82.58 KB
02/07/2019 ESMA71-99-1158 MWT Reclaim Schemes Release , Press Release PDF
103.56 KB
09/01/2019 ESMA71-99-1084 Crypto-assets need common EU-wide approach to ensure investor protection , Press Release PDF
148.74 KB
11/07/2018 ESMA70-145-941 Introductory statement for ECON scrutiny session on Level 2 measures under the EU Benchmarks Regulation Statement PDF
294.21 KB
22/06/2018 ESMA 70-145-466 EC Annex to ESMA response to the EC consultation on supervisory reporting fitness check Statement PDF
386.78 KB
23/05/2018 ESMA71-99-979 ESMA appoints new chair to its Committee of Economic and Markets’ Analysis , Statement PDF
209.05 KB
15/03/2018 15-3-18 ESAs weigh benefits and risks of Big Data , Press Release PDF
20.5 KB
18/12/2017 ESMA 71-99-670 New rules make EU issuers’ annual financial reports machine-readable Press Release PDF
218.36 KB
06/12/2017 ESMA50-164-1173 Press Release MiFID/MAR Transitional Transparency Calculations , , , , Press Release PDF
225.44 KB
13/11/2017 ESMA71-99-649 Press Release ICO Statements , , Press Release PDF
169.52 KB
13/11/2017 ESMA50-157-828 ESMA alerts firms involved in Initial Coin Offerings (ICOs) to the need to meet relevant regulatory requirements , Statement PDF
330.73 KB
13/11/2017 ESMA50-157-829 ESMA alerts investors to the high risks of Initial Coin Offerings (ICOs) , Statement PDF
444.01 KB
29/09/2017 ESMA71-99-602 ESMA appoints new chairs to Standing Committees , , , , , , , Statement PDF
143.69 KB
28/06/2017 ESMA35-36-885 Product Intervention- General Statement , Statement PDF
123.04 KB

This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.

 

ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products[1] to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016[2].

 

However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.

 

ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.

 

In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest[3].

08/06/2017 ESMA70-145-104 Introductory statement for ECON meeting on level 2 Measures under the Benchmarks Regulation (BMR) Statement PDF
206.91 KB
07/03/2017 ESMA50-1623096732-432x Closing remarks Financial Innovation Day Statement PDF
152.27 KB
07/03/2017 ESMA50-1623096732-432 Opening remarks Financial Innovation Day Statement PDF
169.02 KB

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