![]() At least one month before a measure is intended to take effect, an NCA must notify all other NCAs and the European Securities and Markets Authority (ESMA) of the details of its proposed measure and the related evidence, unless there is an exceptional case where it is necessary to take urgent action. National competent authorities (NCAs) may take product intervention measures in accordance with Article 42 of the Markets in Financial Instruments Regulation (EU) No 600/2014 (MiFIR). 1 May 2019 – Restriction to take effect for three months. 27 March 2019 - ESMA agrees to renew restrictions for a further three months. 1 February 2019 – Restriction takes effect for three months. 19 December 2018 - ESMA agrees to renew restrictions for a further three months. 1 November 2018 – Restriction takes effect for three months. 23 October 2018 – ESMA formally adopts renewal product intervention measures 28 September 2018 - ESMA agrees to renew restrictions for a further three months. 1 August 2018 – Restriction takes effect for three months. a prohibition on benefits to incentivising trading andĮSMA’s Decisions describe the relevant evidence in relation to the provision of contracts for differences to retail clients.Ī timeline with links to relevant documents and announcements can be found below.a negative balance protection on a per account basis.a margin close-out rule on a per account basis.5:1 for individual equities and any underlying not otherwise mentioned 10:1 for commodities other than gold and non-major equity indices 20:1 for non-major currency pairs, gold and major equity indices leverage limits on the opening of a position between 30:1 and 2:1, which vary according to the volatility of the underlying asset:.Since 1 August 2018 a restriction on the marketing, distribution or sale of CFDs to retail investors is in effect. 2 April 2019 – Prohibition takes effect for three months 18 February 2019 – ESMA agrees to renew prohibition for a further three months 2 January 2019 – Prohibition takes effect for three months 9 November 2018 – ESMA agrees to renew prohibition for a further three months 2 October 2018 - Prohibition takes effect for three months. 21 September 2018 – ESMA formally adopts renewal of the product intervention measures 24 August 2018 – ESMA agrees to renew prohibition for a further three months, excludes a limited number of products from the scope of the measures. 2 July 2018 – Prohibition takes effect for three months. 1 June 2018 – ESMA formally adopts product intervention measures. 27 March 2018 – ESMA agrees on temporary product intervention measures. ESMA’s Decisions describe the relevant evidence in relation to the provision of binary options to retail clients. A timeline with links to relevant documents and announcements can be found below. Since 2 July 2018, a prohibition on the marketing, distribution or sale of binary options to retail clients. These measures were formally adopted by ESMA on 1 June 2018. On 27 March 2018 ESMA agreed on temporary product intervention measures on the provision of Contracts for Differences and Binary Options to retail clients. *Click on the image to access the video on Youtube ![]()
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