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Italy follows suit: bans binary options and restricts CFD trading permanently

 

Italy is the next European country to make ESMA’s product intervention measures permanent. The Italian financial regulator the Commissione Nazionale per le Società e la Borsa (CONSOB) announced on Friday it bans binary options and restricts CFD trading for retail investors permanently.

 

According to CONDOB’s announcement, the intervention measures will come into force on the day following their publication in the Official Journal and will apply from 2 July 2019 for binary options, and from 1 August 2019 in relation to CFDs.

 

These measures are aimed at guaranteeing greater investor protection for retail investors across the EU, and actually most European financial regulators have already made them permanent - the UK’s Financial Conduct Authority, the French Autorité des Marchés Financiers (AMF), Germany’s BaFin, the Danish Financial Supervisory Authority (FSA), the Central Bank of Ireland, and the Dutch financial regulator AFM.

 

We’d like to remind you that ESMA’s restrictive rules were imposed by the Pan-European regulator in March last year and it keeps renewing them since then, as they have a limited duration of three months. They include a ban on the marketing, distribution or sale of binary options, as well as certain limitations concerning the marketing, distribution or sale of Contracts for Difference to retail investors.

 

More specifically, the restrictions on CFD trades include leverage limits on opening positions; a margin close-out rule on a per account basis; a negative balance protection on a per account basis; preventing the use of incentives by a CFD provider; and a standardized risk warning.

 

TAGS: CONSOB. ESMA  product intervention measures  Italy  binary options ban  leverage cap 

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