natgillin/translations-raw huggingface dataset:
It shall be prohibited to participate, knowingly and intentionally, in activities the object or effect of which is to circumvent the requirements in Article 2, including by acting as a substitute for the CFD provider.
Direktiva 2014/65/EU Evropskega parlamenta in Sveta z dne 15. maja 2014 o trgih finančnih instrumentov ter spremembi Direktive 2002/92/ES in Direktive 2011/61/EU (UL L 173, 12.6.2014, str. 349).
Article 4
Glej uvodno izjavo 35.
Entry into force and application
Glej uvodni izjavi 73 in 75.
This Decision enters into force on the day following that of its publication in the Official Journal of the European Union.
CFD-ji glede na člen 25(4) Direktive 2014/65/EU v povezavi s členom 57 Delegirane uredbe Komisije (EU) 2017/565 z dne 25. aprila 2016 o dopolnitvi Direktive 2014/65/EU Evropskega parlamenta in Sveta v zvezi z organizacijskimi zahtevami in pogoji poslovanja investicijskih podjetij ter opredeljenimi izrazi za namene navedene direktive (UL L 87, 31.3.2017, str. 1) ne izpolnjujejo meril za uvrstitev med nekompleksne finančne instrumente.
This Decision shall apply from 1 August, 2018 for a period of 3 months.
Razmik, ki ga ponudnik CFD-jev navede malim vlagateljem, lahko vključuje pribitek k tržnim cenam, ki ga mora ponudnik plačati zunanjemu viru, kot je ponudnik likvidnosti.
Done at Paris, 22 May 2018.
Glej tudi člen 19(2)(d) Delegirane uredbe (EU) 2017/567 in zlasti zadnji poddejavnik, naveden v tem členu, tj. uporabe, med drugim, terminologije, ki kaže na višjo raven varnosti, kot je dejansko možna ali verjetna.
For the Board of Supervisors
Glej na primer skupno opozorilo organa ESMA, Evropskega bančnega organa (EBA) in Evropskega organa za zavarovanja in poklicne pokojnine (EIOPA) o virtualnih valutah.
The Chair
Na voljo na povezavi: https://www.esma.europa.eu/databases-library/esma-library/50-164-1284, opozorilo organa EBA iz leta 2013, na voljo na povezavi: https://www.eba.europa.eu/documents/10180/598420/EBA_2013_01030000_SL_TRA.pdf, in spletišče Mednarodnega združenje nadzornikov trga vrednostnih papirjev (IOSCO) za pregled opozoril regulatorjev o virtualnih valutah in prvih javnih ponudbah kovancev, na voljo na povezavi: http://www.iosco.org/publications/?subsection=ico-statements.
OJ L 331, 15.12.2010, p. 84.
Pristojni nacionalni organ v Združenem kraljestvu, Financial Conduct Authority (FCA (UK)), je ugotovil stopnje finančnega vzvoda v višini 200:1 za manjše velikosti pozicije.
OJ L 173, 12.6.2014, p. 84.
Poleg tega je organ FCA ugotovil tudi, da je 200: 1 običajni finančni vzvod pri „glavnih“ valutah, 500: 1 in občasno še višji pa je na voljo pri ponudnikih, ki so usmerjeni v male vlagatelje.
OJ L 87, 31.3.2017, p. 90.
Francoski pristojni nacionalni organ, L'Autorité des marchés financiers (AMF (FR)), je ugotovil finančni vzvod v višini do 400: 1 za večino likvidnih valutnih parov.
The Joint Group is composed of the representative of the Cyprus Securities and Exchange Commission (CY-CySEC), the Cypriot NCA, as well as the representatives of eight NCAs whose jurisdictions have been affected by the services provided by the Cyprus-based providers.
Irski pristojni nacionalni organ, Central Bank of Ireland (CBI (IE)), je ugotovil finančni vzvod v višini do 400: 1.
The work of the Joint Group resulted in an action plan to be implemented by CY-CySEC that included inter alia extended investigations into CFD providers as well as thematic reviews of a sample of CY-CySEC authorised firms.
Nemški pristojni nacionalni organ, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin (DE)), je poudaril primer podjetja v Nemčiji, ki je ponujalo finančni vzvod 400: 1 brez poziva h kritju.
Opinion on MIFID practices for firms selling complex financial products (ESMA/2014/146).
Italijanski pristojni nacionalni organ, Commissione Nazionale per le Società e la Borsa (CONSOB (IT)), in bolgarski pristojni nacionalni organ, Комисията за финансов надзор (FSC (BG)), sta ugotovila finančni vzvod v višini do 500: 1.
Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail clients under MiFID (ESMA-35-36-794).
Glej uvodno izjavo 15.
The Q&As were last updated on 31 March 2017.
Vendar je tudi tržna praksa ponudnikov CFD-jev, da določijo raven poziva h kritju, ki je višja od ravni MCO in stranki omogoča, da v podporo svojemu poslu vplača dodatno kritje.
ESMA and EBA's investor warning on ‘contracts for difference (CFDs)’ of 28 February 2013 (available at: https://www.esma.europa.eu/sites/default/files/library/2015/11/2013-267.pdf); ESMA's investor warning on ‘risks in investing in complex products’ of 7 February 2014 (available at: https://www.esma.europa.eu/sites/default/files/library/2015/11/investor_warning_-_complex_products_20140207_-_en_0.pdf); ESMA's investor warning on ‘CFDs, binary options and other speculative products’ of 25 July 2016 (available at: https://www.esma.europa.eu/sites/default/files/library/2016-1166_warning_on_cfds_binary_options_and_other_speculative_products_0.pdf).
Stranka se lahko za to odloči ob tveganju, da bo izgubila več denarja.
For example, the work of the Joint Group has resulted in CY-CySEC adopting a number of enforcement measures aimed at increasing compliance by investment firms offering speculative products like CFDs.
Če na primer ponudnik določi raven poziva h kritju na 70 % začetnega kritja, ki znaša 100 %, bi morala stranka vplačati več denarja na trgovalni račun, ko bi stanje padlo na ali pod 70 %.
Call for evidence on potential product intervention measures on contracts for differences and binary options to retail clients (ESMA35-43-904).
Organ ESMA in pristojni nacionalni organi so si, tudi z razpravami, redno izmenjevali informacije v zvezi s ponujanjem CFD-jev po vsej Uniji.
The number of respondents is lower than this figure since ESMA also received (i) multiple responses from the same respondents (for example a response on each of the proposed restrictions for CFDs in a separate email), and (ii) duplicative responses from the same respondents.
Češki pristojni nacionalni organ, Ceská národní banka (CBN (CZ)), je ugotovil, da češki ponudniki CFD-jev pozicije običajno zaprejo, ko se kritje zmanjša pod 15 %.
Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).
Organa BaFin (DE) in FSC (BG) sta ugotovila, da se pozicije strank zaprejo, ko se sredstva na računu stranke zmanjšajo na 30–50 % minimalnega kritja.
See recital 35.
Luksemburški pristojni nacionalni organ, Commission de Surveillance du Secteur Financier (CSSF (LU)), in francoski pristojni nacionalni organ AMF (FR), sta ugotovila, da ponudniki samodejno zaprtje pozicije običajno določijo pri 120–150 % začetnega kritja.
See recitals 73 and 75.
Organa CySEC (CY) in FCA (UK).
CFDs do not meet the criteria to be regarded as non-complex financial instruments according to the combined reading of Article 25(4) of Directive 2014/65/EU and Article 57 of the Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive (OJ L 87, 31.3.2017, p. 1).
Pri finančnem vzvodu na primer 50: 1 sprememba cene za več kot 2 %.
A spread quoted by a CFD provider to retail clients may include a mark-up to the market prices the provider faces from an external source, such as a liquidity provider.
Na primer organi AMF (FR), BaFin (DE) in FCA (UK).
See also Article 19(2)(d) of Delegated Regulation (EU) 2017/567 and, in particular, the last sub-factor listed therein, that is the use of inter alia terminology that implies a greater level of security than that which is actually possible or likely.
Po navedbah organa BaFin (DE) je „javnost na take produkte (CFD-je) postala pozorna zlasti zaradi pretresa s švicarskim frankom v začetku leta 2015, ko je švicarska nacionalna banka odpravila omejitev vrednosti švicarskega franka glede na evro in so številni vlagatelji v CFD-je zaradi naknadnih dodatnih plačil utrpeli velike izgube“.
See for example the joint warning by ESMA, EBA and EIOPA on virtual currencies.
Na voljo na povezavi: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html.
Available at: https://www.esma.europa.eu/sites/default/files/library/esma50-164-1284_joint_esas_warning_on_virtual_currenciesl.pdf, the EBA warning from 2013.
Nekateri respondenti, ki so se odzvali na poziv k predložitvi dokazov, so navedli, da so pri trgovanju s CFD-ji izgubili več kot 100000 EUR.
Available at: https://www.eba.europa.eu/documents/10180/598344/EBA+Warning+on+Virtual+Currencies.pdf, and see IOSCO's webpage for an overview of regulator's warnings on virtual currencies and initial coin offerings.
Glej primer, ko je vlagatelj, ki je vložil le 2800 EUR, izgubil 280000 EUR.
Available at: http://www.iosco.org/publications/?subsection=ico-statements
Na voljo na povezavi: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html.
The Financial Conduct Authority (UK-FCA), the NCA in the UK, has noted leverage levels of 200:1 for smaller position sizes.
Avstrija, Belgija, Ciper, Češka, Danska, Estonija, Finska, Francija, Nemčija, Grčija, Irska, Italija, Litva, Malta, Nizozemska, Romunija, Španija, Slovenija in Združeno kraljestvo ter Norveška, Lihtenštajn in Islandija.
Furthermore, the UK-FCA has also observed that 200:1 is the typical leverage in ‘major’ currencies, but 500:1 and occasionally higher is available from providers targeting smaller retail clients.
Organi FMA (AT), FSMA (BE) (ki je uvedel nacionalne ukrepe za omejitev teh produktov), CySEC (CY), CNB (CZ), BaFin (DE), Finanstilsynet (DK), FSA (EE), HCMC (EL), CNMV (ES) in FSA (FI).
L'Autorité des marchés financiers (FR-AMF), the French NCA, has observed leverage of up to 400:1 for the most liquid currency pairs.
Organi AMF (FR), CBI (IE), FME (IS), CONSOB (IT), FMA (LI), Lietuvos Bankas (LT), MFSA (MT), AFM (NL), Finanstilsynet (NO), CMVM (PT), ASF (RO), FI (SE), ATVP (SI) in FCA (UK).
The Central Bank of Ireland (IE-CBI), the Irish NCA, has observed leverage of up to 400:1.
Organi CONSOB (IT), CBI (IE), AFM (FR) in CNB (CZ).
The Bundesanstalt für Finanzdienstleistungsaufsicht (DE-BaFin), the German NCA, highlighted one particular case in Germany of a firm offering a leverage of 400:1 with no margin call.
Leta 2017 so grški pristojni nacionalni organ, Ελληνική Επιτροπή Κεφαλαιαγοράς (HCMC (EL)), madžarski pristojni nacionalni organ, Magyar Nemzeti Bank (MNB (HU)), in slovaški pristojni nacionalni organ, Národná Banka Slovenska (NBS (SK)), organu ESMA poročali, da so ugotovili povečanje števila zahtevkov za dovoljenje ponudnikom CFD-jev.
The Commissione Nazionale per le Società e la Borsa (IT-CONSOB), the Italian NCA, and the Комисията за финансов надзор (BG-FSC) the Bulgarian NCA, have observed leverage of up to 500:1.
Podatke so leta 2015 posredovali: FSMA (BG), CySEC (CY), CNB (CZ), AMF (FR), CBI (IE), FME (IS), CSSF (LU), AFM (NL), MFSA (MT), CMVM (PT), ASF (RO) in FCA (UK).
See recital 15.
Podatki, ki so jih leta 2017 predložili naslednji organi: CySEC (CY), CNB (CZ), CNMV (ES), AMF (FR), CBI (IE), CSSF (LU), AFM (NL), MFSA (MT), Finanstilsynet (NO), NBS (SK) in FCA (UK).
However, it is also market practice for CFD providers to set a margin call level which is higher than the margin close-out level and which gives the client the opportunity to post more margin to support their trade.
Glede na pogosto čezmejno razsežnost dejavnosti ponudnikov produktov lahko ta številka vključuje tudi stranke iz držav izven EGP.
The client can choose to do so at the risk of losing more money.
Podatki, ki jih je predložil organ CySEC (CY), so bili zbrani na podlagi računov, odprtih pri ponudnikih, ki ponujajo te produkte in jih je pooblastil ta organ.
For example, if a provider sets the margin call level at 70 % of an initial margin of 100, the client would be requested to place more money in the trading account once the balance falls to 70 or lower.
Kar zadeva Združeno kraljestvo, ti podatki ne vključujejo strank ponudnikov, pooblaščenih v Združenem kraljestvu, ki niso iz te države, po ocenah pa naj bi bilo leta 2016 takih strank približno 400000.
ESMA and NCAs have shared information, including through discussion, on an ongoing basis in relation to the offering of CFDs across the Union.
Številka za druge države članice, ki so podatke posredovale organu ESMA, lahko vključuje stranke iz držav zunaj EGP.
The Ceská národní banka (CZ-CBN), the Czech NCA, has observed that Czech CFD providers usually close-out positions when margin drops under 15 %.
Pritožbe v zvezi s CFD-ji so prejeli organi FMA (AT), FSMA (BE), FSC (BG), HANFA (HR), CNB (CZ), CySEC (CY), Bain (DE), Finanstilsynet (DK), Finantsinspektsioon (EE), HCMC (EL), CNMV (ES), Finanssivalvonta (FI), AMF (FR), CBI (IE), CONSOB (IT), Lietuvos Bankas (LT), MFSA (MT), AFM (NL), KNF (PL), CMVM (PT), ASF (RO), Finansinspektionen (SE), ATVP (SI), FCA (UK) in Finanstilsynet (NO).
DE-BaFIN and BG-FSC have observed that clients' positions would be closed when funds in a client's account fall between 30-50 % of the minimum margin.
Na primer češka nacionalna banka, poljski KNF in španski CNMV.
The Commission de Surveillance du Secteur Financier (LU-CSSF), the Luxembourgish NCA, and l'Autorité des marchés financiers (FR-AMF), the French NCA, have noted that automatic close-outs set by providers are typically between 120-150 % of the initial margin.
Na voljo na povezavi: https://www.fsma.be/en/news/fsma-regulation-establishes-framework-distribution-otc-derivatives-binary-options-cfds.
The CY-CySEC and the UK-FCA.
Na voljo na povezavi: http://www.amf-france.org/en_US/Actualites/Communiques-de-presse/AMF/annee-2016.html?docId=workspace%3A%2F%2FSpacesStore%2Fad42eecc-9720-49da-82a8-2ddcb72fbf1d.
For example, at a leverage of 50:1 a price change in excess of 2 %.
V študiji s 30000 strankami, ki pomenijo približno 100 % malih vlagateljev ponudnikov CFD-jev, ki jih je pooblastil organ CNMV.
According to the DE-BaFin, ‘such products (CFDs) came to the public's attention primarily as a result of the ‘Swiss franc shock’ at the beginning of 2015, when the Swiss National Bank abandoned the cap on the Swiss franc's value against the euro and many CFD investors suffered major losses as a result of having to subsequently make additional payments. ’
Na voljo na povezavi: http://www.amf-france.org/technique/multimedia%3FdocId%3Dworkspace%253A%252F%252FSpacesStore%252F9bf2caa8-1ce4-4832-85f4-4dffcace8644%26.
Available at: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html
Na voljo na povezavi: https://www.centralbank.ie/docs/default-source/publications/Consultation-Papers/cp107/consultation-paper-107.pdf?sfvrsn=4.
Some respondents to the call for evidence signalled that they lost more than EUR 100000 while trading CFDs.
Glej strani 1 in 2.
See an example where an investor lost EUR 280000 with only EUR 2800 invested.
Na voljo na povezavi: https://www.knf.gov.pl/o_nas/komunikaty?articleId=50315&p_id=18 (na voljo le v poljskem jeziku).
Available at: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2016/pm_161208_allgvfg_cfd_en.html.
Navedene stranke so vlagale zlasti v CFD-je.
Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Lithuania, Malta, Netherlands, Romania, Spain, Slovenia and the United Kingdom, as well as Norway, Liechtenstein and Iceland.
Ti podatki vključujejo tudi vlagatelje, ki so vlagali v binarne opcije in so predstavljali manj kot 4 % aktivnih strank v letu 2017.
AT-FMA, BE-FSMA (with national measures introduced to restrict these products),CY-CySEC, CZ-CNB, DE-BaFin, DK-Finanstilsynet, EE-FSA, EL-HCMC, ES-CNMV, FI-FSA.
Na voljo na povezavi: https://www.fca.org.uk/publication/consultation/cp16-40.pdf.
FR-AMF, IE-CBI, IS-FME, IT-CONSOB, LI-FMA, LT- Lietuvos Bankas, MT-MFSA, NL-AFM, NO-Finanstilsynet, PT-CMVM, RO-ASF, SE-FI, SI-ATVP, UK-FCA.
Glej strani 23 in 35.
IT-CONSOB, IE-CBI, FR-AFM and CZ-CNB.
Na voljo na povezavi: https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-cfd-review-findings.pdf.
In 2017, the Ελληνική Επιτροπή Κεφαλαιαγοράς (EL-HCMC), the Greek NCA, the Magyar Nemzeti Bank (HU-MNB), the Hungarian NCA, and the Národná Banka Slovenska (SK-NBS), the Slovakian NCA,, reported to ESMA that they have observed a growth in the number of applications for authorisation of CFD providers.
Ta številka predstavlja približno 33–50 % vseh malih vlagateljev s CFD-ji, aktivnih na Norveškem.
Data provided in 2015 by: BG-FSMA, CY-CySEC, CZ-CNB, FR-AMF, IE-CBI, IS-FME, LU-CSSF, NL-AFM, MT-MFSA, PT-CMVM, RO-ASF, UK-FCA.
Objavljeno v norveškem jeziku: https://www.finanstilsynet.no/nyhetsarkiv/nyheter/2017/finanstilsynet-advarer-mot-handel-i-cfd/.
Data provided in 2017 by: CY-CySEC,CZ-CNB, ES-CNMV, FR-AMF, IE-CBI, LU-CSSF, NL-AFM, MT-MFSA, NO- Finanstilsynet, SK-NBS, UK-FCA.
Organ ESMA na primer na podlagi podatkov podjetja Thomson Reuters Lipper o razredih delnic za male vlagatelje skupine kolektivnega naložbenega podjema za vlaganja v prenosljive vrednostne papirje (KNPVP) ocenjuje, da je bil povprečni letni donos za vlagatelje, ovrednoten s sredstvi, brez dajatev ter vstopnih ali izstopnih provizij, v obdobju 2008–2017 približno triodstoten, s povprečno več kot petodstotnim donosom za naložbe v sklade kapitala.
Given the frequent cross-border dimension of the activity of product providers, this figure may include clients from non-EEA States.
Dodatne podrobnosti o uspešnosti in stroških v zvezi s kolektivnim naložbenim podjemom za vlaganja v prenosljive vrednostne papirje v EU so na voljo v drugem poročilu organa ESMA o gibanjih, tveganjih in ranljivostih, 2017, str. 36–44, na voljo na povezavi https://www.esma.europa.eu/sites/default/files/library/esma50-165-416_trends_risks_and_vulnerabilities_no.2_2017.pdf).
With particular regard to the UK, the number of CFD funded client accounts has risen from 657000 in 2011 to 1051000 at end-2016.
Študijo o ponujanju CFD-jev in valutnega trgovanja forex malim vlagateljem je izvedel organ MFSA (MT).
However, these figures do not exclude dormant client accounts or multiple accounts used by the same retail client.
Prej člen 19(5) Direktive 2004/39/ES Evropskega parlamenta in Sveta z dne 21. aprila 2004 o trgih finančnih instrumentov in o spremembah direktiv Sveta 85/611/EGS, 93/6/EGS in Direktive 2000/12/ES Evropskega parlamenta in Sveta ter o razveljavitvi Direktive Sveta 93/22/EGS (UL L 145, 30.4.2004, str. 1).
The figures provided by CY-CySEC have been compiled on the basis of accounts opened in CY-CySEC authorised providers offering these products.
Priloga IV k Direktivi 2014/65/EU vsebuje tabelo s korelacijami med zahtevami Direktive 2004/39/ES ter zahtevami Direktive 2014/65/EU in Uredbe (EU) št. 600/2014.
As far as the UK is concerned, this figure does not include non-UK clients of UK authorised providers which in 2016 was estimated at approximately 400000.
To tveganje lahko poveča prekomerno zaupanje, ki ga je bilo mogoče v zadnjih vedenjskih študijah pogosto opaziti.
For the other Member States which provided the data to ESMA, the figure may include clients from non-EEA States.
Nedavna študija, ki se osredotoča na trge forex, kaže, da je finančni vzvod pomemben kazalnik pretiranega samozaupanja: Forman, John H., in Horton, Joanne, Is Leverage Use a Better Indication for Overconfidence?
Complaints relating to CFDs have been received by the AT-FMA,, the BE-FSMA, the BG-FSC, the HR- HANFA, the CZ-CNB, the CY-CySEC, the DE-Bain, the DK-Finanstilsynet, the EE-Finantsinspektsioon, the EL-HCMC, the ES-CNMV), the FI-Finanssivalvonta, the FR-AMF, the IE-CBI), IT-CONSOB, the LT-Lietuvos Bankas, the MT-MFSA, the NL-AFM, the PL-KNF), the PT-CMVM), the RO-ASF, the SE-Finansinspektionen, the SI-ATVP, the UK-FCA and the NO-Finanstilsynet.
Na primer organi BaFin (DE), Finanstilsynet (DK), CNMV (ES), CBI (IE), AMF (FR), CSSF (LU) in AFM (NL).
For example, the Czech National Bank, the Polish KNF and the Spanish CNMV.
Na primer organ CBI (IE).
Available at: https://www.fsma.be/en/news/fsma-regulation-establishes-framework-distribution-otc-derivatives-binary-options-cfds
Na primer organ FCA (UK).
Available at: http://www.amf-france.org/en_US/Actualites/Communiques-de-presse/AMF/annee-2016.html?docId=workspace%3A%2F%2FSpacesStore%2Fad42eecc-9720-49da-82a8-2ddcb72fbf1d
Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail clients under MiFID (Vprašanja in odgovori v zvezi s ponudbo CFD-jev in drugih špekulativnih produktov malim vlagateljem na podlagi MIFID, ESMA-35-36-794), kot je bil posodobljen 31. marca 2017.
Across a study of 30000 clients representing approximately 100 % of retail clients of CFD providers authorised by CNMV.
Na primer organi FSMA (BE), CNMV (ES), AMF (FR) in CONSOB (IT).
Published in Spanish: http://www.cnmv.es/Portal/verDoc.axd?t=%7bf1a92bb1-5f1b-420b-b58c-122d64a1ed9a%7d
Oddelek 3 dokumenta Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail clients under MiFID (Vprašanja in odgovori v zvezi s ponudbo CFD-jev in drugih špekulativnih produktov malim vlagateljem na podlagi MIFID, ESMA-35-36-794), kot je bil posodobljen 31. marca 2017, in en primer organa FCA (UK).
Available at: http://www.amf-france.org/technique/multimedia%3FdocId%3Dworkspace%253A%252F%252FSpacesStore%252F9bf2caa8-1ce4-4832-85f4-4dffcace8644%26
Na primer organ CNMV (ES).
Available at: https://www.centralbank.ie/docs/default-source/publications/Consultation-Papers/cp107/consultation-paper-107.pdf?sfvrsn=4.
Organi FCA (UK), CySEC (CY) in BaFin (DE).
See page 1 and 2.
Zlasti organ FCA (UK).
These data also include investors investing in binary options who constituted less than 4 % of active clients in 2017.
Organ CNMV (ES) je na primer ugotovil, da stranke zaradi negativnih rezultatov običajno delujejo kratek čas.
Available at: https://www.fca.org.uk/publication/consultation/cp16-40.pdf.
V oddelku 6 dokumenta Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail clients under MiFID (Vprašanja in odgovori v zvezi s ponudbo CFD-jev in drugih špekulativnih produktov malim vlagateljem na podlagi MIFID, ESMA-35-36-794), kot je bil posodobljen 31. marca 2017, je navedeno, da ni verjetno, da bi podjetje, ki ponuja bonus, namenjen spodbujanju malih vlagateljev k trgovanju s kompleksnimi špekulativnimi izdelki, kot so CFD-ji in valutno trgovanje forex, lahko dokazalo, da deluje pošteno, pravično in strokovno ter v najboljšem interesu malih vlagateljev, ki prek njega poslujejo.
See page 23 and 35.
Na primer organi AMF (FR), FCA (UK) in CNMV (ES).
Available at: https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-cfd-review-findings.pdf
Na primer organi CNB (CZ), AMF (FR), MNB (HU), CSSF (LU) in FCA (UK).
Representing approximately 33 % to 50 % of all CFD retail clients active in Norway.
V oddelku 2 dokumenta Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail clients under MiFID (Vprašanja in odgovori v zvezi s ponudbo CFD-jev in drugih špekulativnih produktov malim vlagateljem na podlagi MIFID, ESMA-35-36-794), kot je bil posodobljen 31. marca 2017, so podrobneje obravnavana nekatera od teh nasprotij interesov.
Published in Norwegian: https://www.finanstilsynet.no/nyhetsarkiv/nyheter/2017/finanstilsynet-advarer-mot-handel-i-cfd/
Uredba (EU) št. 1286/2014 Evropskega parlamenta in Sveta z dne 26. novembra 2014 o dokumentih s ključnimi informacijami o paketnih naložbenih produktih za male vlagatelje in zavarovalnih naložbenih produktih (PRIIP) (UL L 352, 9.12.2014, str. 1).