Response to FCA Consultation CP18/38

RNS Number : 8032J
IG Group Holdings plc
07 December 2018
 

 

07 December 2018

LEI No: 2138003A5Q1M7ANOUD76

IG GROUP HOLDINGS PLC
Response to FCA Consultation CP18/38

IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, notes that the Financial Conduct Authority ("FCA") has issued today a consultation (CP18/38 - Restricting contract for difference products sold to retail clients and a discussion of other retail derivative products) ("the FCA's proposals").

 

As expected, the FCA is proposing to make the previously announced ESMA measures permanent in the UK.  The FCA is also proposing to extend the CFD measures to similar leveraged derivatives in the UK.  The FCA's proposals have been anticipated by the Company, and do not change the Company's expectations on performance or Group revenue.

 

IG continues to be supportive of the objective of regulators to improve client outcomes in this industry and will continue to engage fully with regulators.  In IG's experience, when proportionate regulation has been applied consistently and appropriately, client outcomes have improved, and compliant providers have benefitted over the longer term.

 

For further information, please contact:

 

IG Group                                                             IG Group                                                             FTI Consulting

Liz Scorer                                                             Ramon Kaur                                                       Neil Doyle / Ed Berry    

020 7573 0727                                                    020 573 0060                                                       020 3727 1141 / 1046

investors@iggroup.com                               press@ig.com

 

About IG

IG empowers informed, decisive, adventurous people to access opportunities in over 15,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.

 

IG's vision is to be a global leader in retail trading and investments. Established in 1974 as the world's first financial derivatives firm, it continued leading the way by launching the world's first online and iPhone trading services.

 

IG is an award-winning, multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees, and offers an execution-only share dealing service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has a range of affordable, fully managed investment portfolios, to provide a comprehensive offering to investors and active traders.

 

It is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and the US, where it offers on-exchange limited risk derivatives via the Nadex brand.

 

*Based on revenue excluding FX (from published financial statements, February 2018)               

 

 

 

 

 

 


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