ESMA is considering the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks with regards to binary options, CFDs, and other speculative instruments. In particular, ESMA is considering measures to:
The restrictions on CFDs currently under review are:
ESMA will conduct a brief public consultation in January 2018 on this matter. Any product intervention measure adopted by ESMA under Article 40 of MiFIR can have an initial duration of up to three months and is renewable.