Lord Myners – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Myners on 2016-10-03.

To ask Her Majesty’s Government what plans they have to restrict the advertising and promotion of primary option trading and investment to retail investors in the UK by firms based in Cyprus and Malta.

Lord Young of Cookham

The government takes this issue very seriously.

The government will introduce measures to strengthen investor protection when it transposes the Markets in Financial Instruments Directive II (MiFID II).

This will include powers for the Financial Conduct Authority (FCA) to prohibit or restrict the marketing, distribution or sale of financial instruments, including relevant binary options where there are significant investor protection concerns.

These powers will apply from 3 January 2018.