Home / Regulatory Developments / Circular C226 (“the Circular”) dated 18.07.17 regarding France’s national legislation regarding the prohibition of electronic advertising to Retail Investors when offering speculative, complex and risky products in the territory of France – AMF’s position in the form of Q&As

Circular C226 (“the Circular”) dated 18.07.17 regarding France’s national legislation regarding the prohibition of electronic advertising to Retail Investors when offering speculative, complex and risky products in the territory of France – AMF’s position in the form of Q&As

Through the Circular, CySEC follows-up on Circular C202 published on 12.04.17 and hereby draws the attention of the Cyprus Investment Firms (“the CIFs”) which provide investment services to Retail Clients, relating to:

  • financial Contracts for Difference (CFDs); and
  • other complex and speculative products (i.e. Binary Options and Foreign Exchange Contracts);

through a branch or cross border, in the territory of France.

CySEC’s expects that: CIFs shall pay attention to the Q & As of the Autorité des Marchés Financiers (“the AMF”) which further clarify the scope of the relevant marketing prohibition introduced via Circular C202. CIFs shall consult with their legal consultants regarding the necessary actions / measures required to ensure compliance with AMF’s regulatory requirements applicable since 09.01.17 regarding the prohibition rules on marketing communications, to any persons who may qualify as Retail Clients. CIFs may visit AMF’s website (accessible here) to read more information on the aforementioned provisions.

 

Top