The European Securities and Markets Authority (ESMA) has updated its Q&As on the application of MiFID to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients, such as binary options and rolling spot forex.

The Q&As now include a new section 10 which covers passporting and the cross-border provision of services by investment firms offering CFDs and other speculative products to retail clients outside the home Member State without the establishment of a branch or tied agent.

View ESMA publishes updated Q&A on CFDs and other speculative products, 31 March 2017