Regulatory Alerts2019-06-29
Resolution of 27 June 2019 by the National Securities Market Commission on product intervention measures regarding binary options and contracts for difference
The Spanish National Securities Market Commission (CNMV) issued a resolution implementing ESMA's product intervention measures to prohibit the sale of binary options and restrict the marketing of Contracts for Difference (CFDs) to retail clients in Spain. The regulation mandates strict risk warnings, initial margin requirements based on asset type, and protections against negative balances and position closures to address significant investor protection concerns. These measures align with EU-wide decisions and remain in force indefinitely unless market conditions change, applying to all entities marketing these products to Spanish residents.
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