ESMA: Potential product intervention measures on contracts for differences and binary options to retail clients
Further to its December statement, ESMA has now published a call for evidence on potential product intervention measures relating to the provision of CFDs, including rolling spot forex, and binary options to retail investors. With regard to CFDs, proposals specifically concern: leverage limits on the opening of a position by a retail client; margin close out rule on a position by position basis. This would standardise the percentage of margin at which providers are required to close out a retail client’s open CFD; negative balance protection on a per account basis; a restriction on the incentivisation of trading provided by a CFD provider; and a standardised risk warning by CFD providers. ESMA is also considering whether CFDs in cryptocurrencies should be addressed in the measures. With regard to binary options, ESMA is considering a prohibition on the marketing, distribution or sale of binary options to retail investors. Responses are required by 5 February 2018.
Last updated · 13 Mar 2026
Regulatory News - Banking & Finance
See all Regulatory News - Banking & FinanceFCA: GC26/7: Decentralised Finance
FCA has published a guidance consultation paper on decentralised finance (DeFi) to help firms understand how existing operational resilience and financial crime requirements may apply when they provide financial services using DeFi. The draft non-Handbook guidance is set out in Annex 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in January 2027.
FCA: CP26/36: Cryptoasset perimeter guidance
FCA has published a consultation paper CP26/36 on changes to its Perimeter Guidance manual (PERG) to reflect the amendments to the cryptoasset regime introduced by the Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026. The changes explain FCA’s view of how the amendments in the legislation apply, and how the new exclusions interact with the regulated cryptoasset activities. The amended draft Handbook text is set out in Appendix 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in spring 2027.
The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026/1010
The SI extends by a further 12 months the transitional regime for overseas qualifying CCPs contained within Article 497 of the UK CRR.
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