IG Group Holdings plc Response to FCA Consultation Paper (0838R)
06 December 2016 - 9:04PM
UK Regulatory
TIDMIGG
RNS Number : 0838R
IG Group Holdings plc
06 December 2016
06 December 2016
IG GROUP HOLDINGS PLC
Response to FCA Consultation Paper
IG Group ("IG", "the Company"), a global leader in online
trading, notes today's Consultation Paper issued by the FCA (CP
16/40 - Enhancing conduct of business rules for firms providing
contract for difference products to retail clients).
IG firmly believes in robust and proportionate regulatory
oversight of the CFD sector in the UK and Europe. The Company
recognises that there are shortcomings in the approach to the
marketing of CFDs and binaries by certain firms, often operating
from outside the UK. The Company has operated and will continue to
operate to the highest standards in the industry, and its initial
view is that certain of the FCA proposals could enhance client
outcomes.
The Company notes, however, that the FCA's proposals do not
appear to directly apply to firms operating from outside the UK
offering CFDs and binaries to clients in the UK on a cross-border
services passport from another EU member state.
IG will carefully consider the implications of the FCA
Consultation Paper and the courses of action open to it, and will
respond in accordance with the timeline provided of 7 March
2017.
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, 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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