ESMA’s opinion finds that the proposed measures are justified and proportionate and that it is necessary for NCAs to take product intervention measures that are at least as stringent as ESMA’s measures.
ESMA’s has issued opinions on national product intervention measures from:
Authority for the Financial Markets of the Netherlands (AFM) – Opinion on the proposed product intervention measure relating to binary options;
Authority for the Financial Markets of the Netherlands (AFM) – Opinion on the proposed product intervention measures relating to contracts for differences;
Komisja Nadzoru Finansowego of Poland (KNF) - Opinion on the proposed product intervention measure relating to binary options; and
Financial Conduct Authority of the United Kingdom (FCA) - Opinion on the proposed product intervention measure relating to binary options.
Background
NCAs may take product intervention measures in accordance with Article 42 of Regulation (EU) No 600/2014. At least one month before a measure is intended to take effect, an NCA must notify all other NCAs and ESMA of the details of its proposed measure and the related evidence, unless there is an exceptional case where it is necessary to take urgent action.
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