Latest by Lucy Kerr


ESMA to use new powers to attack the sale of CFDs and binary bets to retail investors

Published on 25 January 2018. By Robbie Constance, Partner and Lucy Kerr, Associate

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ESMA has launched a public consultation on measures to protect retail investors investing in contracts for difference (CFDs) and binary bets. Potential changes include wide-ranging restrictions on the marketing and sale of CFDs, and a complete prohibition on the sale of binary bets to retail investors. An intervention would mark ESMA's first use of its new powers under MiFID II, which came into force on 3 January.

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The FCA pledges to take action against providers of contracts for difference

Published on 12 January 2018. By Lucy Kerr, Associate

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The FCA has concluded that consumers are at "serious risk of harm" due to the poor practices of some providers and distributors of CFDs. The regulator will take further action against at least one firm in its latest crack-down on these "complex, high-risk" products.

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FCA criticised by Complaints Commissioner for its handling of enforcement limitation issues

Published on 04 October 2017. By Lucy Kerr, Associate

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The Office of the Complaints Commissioner recently upheld two complaints against the FCA for making a "serious mistake" in its management of limitation issues for two connected investigations. The Commissioner criticised the FCA not only for its mismanagement of the limitation issue, but also for the unnecessary delays in concluding its own internal investigation into these complaints.

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The FCA: key themes for 2017/18

Published on 29 September 2017. By Lucy Kerr, Associate and Richard Burger, Partner

A look at key developments for the FCA in 2017 and looking forward to 2018

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Retail CFD firms face potential EU market-wide restrictions and further criticism from the FCA

Published on 03 July 2017. By Lucy Kerr, Associate and Dil-veer Kang , Trainee solicitor

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The European Securities and Markets (ESMA) has announced it is considering imposing restrictions on contracts for difference (CFD) trading that would mean seismic changes for the industry, whilst the FCA has announced its serious concerns about the CFD industry's continued failure to meet expectations regarding the treatment of retail clients.

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