ESMA: Opinion on the product intervention measures relating to contracts CFDs and other high risk products

ESMA has issued an Opinion on product intervention measures taken by the Spanish Comisión Nacional del Mercado de Valores with regard to (i) further restrictions on the marketing of CFDs, including the advertisement of CFDs to the public and (ii) the introduction of initial margin and margin close out requirements to products where the investor may lose more than initially invested.  ESMA encourages all national competent authorities to monitor whether similar risks as those identified by CNMV may arise in their jurisdictions.