IG Group Holdings plc Update on French regulatory position on CFDs (6020T)
January 09 2017 - 1:00AM
UK Regulatory
TIDMIGG
RNS Number : 6020T
IG Group Holdings plc
09 January 2017
9 January 2017
IG GROUP HOLDINGS PLC
Update on French regulatory position on CFDs
IG Group ("IG", "the Company"), a global leader in online
trading, today provides an update on the impact of new requirements
from the AMF, a supervisor of the Company's activities, on the
advertising of its products in France.
Following the passing of the Sapin 2 law at the end of 2016, the
general rulebook of the AMF has now been adopted. The AMF has
confirmed certain restrictions on electronic marketing of CFDs to
retail clients in France. The key marketing restrictions do not
impact the accounts that IG now offers to new clients in France,
because IG's accounts provide a limited loss-by-position guarantee
as required, and therefore also a guarantee of no negative balance.
The AMF will also ban all electronic marketing involving FX and
Binaries. As anticipated, the restrictions have no impact on the
current client base.
Overall, the Company does not believe these restrictions will
have a material negative impact on its business in France in the
short term and could ultimately enhance the Company's future
competitive position in the country.
IG believes the AMF's approach will provide substantial
protection for consumers and greatly improve standards in the
sector. IG supports robust and proportionate regulatory oversight
of the CFD sector in all the markets in which it operates. The
Company has operated and will continue to operate to the highest
standards in the industry.
For further information, please contact:
IG Group
Kieran McKinney
Head of Investor Relations and Corporate Affairs 020 7573 0026 investors@iggroup.com
FTI Consulting
Neil Doyle / Ed Berry 020 3727 1141 / 1046
IG is a global leader in online trading, providing fast and
flexible access to over 10,000 financial markets - including
shares, indices, forex, commodities and binaries.
Established in 1974 as the world's first financial spread
betting firm, IG's aim is to become the default choice for active
traders globally. It is an award-winning multi-platform trading
company, the world's No.1 provider of CFDs* and a global leader in
forex, and it now offers an execution-only stockbroking service in
the UK, Australia, Ireland, France, Germany, Austria and the
Netherlands.
It is a member of the FTSE 250, with offices across Europe,
Africa, Asia-Pacific, the Middle East and the US, where it offers
limited risk derivatives contracts via the Nadex brand.
* based on revenue excluding FX (from published financial
statements, October 2016)
This information is provided by RNS
The company news service from the London Stock Exchange
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