Football enthusiasts can now trade football-based contracts for difference (CFDs), turning passion into profit, but what are the regulatory implications for brokers offering these products to their clients?
To address the Money Laundering/Terrorism Financing (ML/TF) risks emanating from crypto-assets, the Cyprus Securities and Exchange Commission (CySEC) published a policy statement (PS) on 13 September 2021 to outline its approach to the registration and operations of Crypto Asset Services Providers (CASPs).
PFOF triggered ESMA’s concerns on a few key MiFID II requirements, namely, best execution (Article 27), conflicts of interest (Article 23), inducements (Article 24(9)), and cost transparency (Article 24(4)). The purpose of these requirements are to protect retail investors.
Following the footsteps of other major regulators, the UK, EU and Australia have implemented leverage restrictions on contracts for difference (CFDs) in recent years. In search of alternative solutions, some brokers have found a workaround by moving offshore or setting up branches in jurisdictions with no leverage restrictions.
HM Treasury has issued a consultation paper, the Wholesale Markets Review, which proposed the United Kingdom’s plans to diverge from the European Union’s financial market regulations.
Are turbos the new answer to high risk, big profits (and potentially bigger losses) which retail traders are seeking?
Navigating your European reporting obligations can be tricky.
We’ve answered some of our most frequently asked questions below to help you understand your transaction reporting obligations a little better.
Are you unsure if you have EMIR and/or MiFIR reporting obligations or whether you are reporting completely and correctly?
A UK investment bank has been fined £178,000 by the FCA for failing to have adequate controls and procedures to monitor transactions.