The Cyprus Securities and Exchange Commission (CySEC) urged Cyprus Investment Firms (CIFs) to consider the CNMV’s Resolution of 11 July 2023 on product intervention measures relating to CFDs and other leveraged products to retail investors in Spain.

The CNMV’s Resolution forbids the advertisement of CFDs and other leveraged instruments to retail investors as well as certain remuneration policies and sales practices. Moreover, intervention measures for the marketing, sale and distribution to retailers of other leveraged instruments are established.

The measures took effect on August 3, 2023. They apply to all entities authorized to provide investment services in Spain. The measures are related to any marketing, distribution and sale of the subject instruments and services to retail investors in Spain, regardless of the origin of the investment firm marketing and distributing such products, or whether there is or not a branch in Spain (therefore including entities under the freedom to provide services without an establishment).

CySEC urges all CIFs that are marketing, distributing and selling CFDs and other leveraged products to retail investors in Spain to take all appropriate actions and measures to adhere to the CNMV’s Resolution.