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Spread betting firms lose £1.3bn in minutes after watchdog crackdown
Over £1bn has been wiped off from the value of spread betting firms after the financial regulator launched a crackdown on the spread betting market to protect inexperienced retail customers from “unexpected losses”. The Financial Conduct Authority (FCA) on Tuesday proposed tougher rules to help protect investors in the "contract for difference" (CFD) market, which includes financial spread betting, after finding that 82 per cent of customers using them lost money. London-listed spread betters plunged by as much as 30 per cent following the announcememt. CMC Markets, one of the biggest fallers among the larger ... (full story)
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