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The Cyprus Securities and Exchange Commission has notified Cyprus Investment Firms it regulates that the European Securities and Markets Authority has extended its controls on binary options and contracts for difference.
The Cyprus Securities and Exchange Commission has notified
Cyprus Investment Firms it regulates that the European Securities
and Markets Authority has extended its controls on binary options
and contracts for difference.
The prohibition on the marketing, distribution or sale of binary
options to retail clients, which has been in effect since 2 July
2018, has been extended for three months, to 2 January 2019.
Certain products, which have specific features that mitigate the
risk of investor detriment, are now excluded from the
prohibition.
The restrictions on the marketing, distribution or sale of
contracts for difference to retail clients, which have been in
effect since 1 August, have been extended by three months, to 1
February 2019. These restrictions include leverage limits, a margin
close out rule on a per account basis, negative balance protection
on a per account basis, a restriction on the incentives offered to
trade CFDs and a standard risk warning, including the percentage of
the CFD provider's retail investor accounts which are
loss-making.
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