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Morgan Lawnet Report: FCA confirms the ban on the sale of binary choices to retail patrons
Morgan Lawnet Report:
confirmed that every particular person firms acting in or from the UK are prohibited from promoting, marketing or distributing binary choices to retail patrons.
The FCA’s strategies are permanent and arrive into force on 2 April 2019.
The FCA states that its strategies are in substance the the same as the EU-wide non permanent restriction on binary choices imposed by the European Securities and Markets Authority (ESMA) (our most in kind blog is right here).Nonetheless, the FCA is also making use of its strategies to so-known as ‘securitised binary choices’ that agree with been excluded from ESMA’s restriction. Securitised binary choices usually are now not at mask supplied in or from the UK. The FCA thinks these merchandise pose the the same dangers for investors and so are extending the scope of the prohibition to discontinue a market rising for these merchandise.