EU Investment Firms Should Clearly State Crypto Is Unregulated, Watchdog Says

The EU agency said it's worried that firms may use a seal of regulatory approval they have to offer traditional finance stocks or funds to make customers believe they’ll have access to sound financial advice or compensation schemes in the event of crypto mishaps.

EU rules known as the Markets in Financial Instruments Directive ensure investment intermediaries promote only appropriate financial products to clients – but don’t always apply to more exotic investment opportunities like gold, real estate or non-transferable loans. The EU’s Markets in Crypto Assets regulation is set to bring MiFID-style rules to the sector, but the regime will only take effect in around 18 months. In the meantime, ESMA, a Paris-based agency that groups and coordinates national regulators, is worried some companies are encouraging and exploiting the ambiguity.

“ESMA recommends that investment firms take all necessary measures to ensure that clients are fully aware of the regulatory status of the product/service they are receiving and clearly disclose to clients when regulatory protections do not apply,” ESMA said, adding that regulatory approval shouldn't be used as a promotional tool.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Tech Giants Trigger Generative AI Investment BoomVIP+ Guest Column: From Microsoft to Amazon, Google to Meta, everyone’s in on the artificial intelligence hype, and the money’s following suit.
Källa: Variety - 🏆 108. / 63 Läs mer »

Solar power due to overtake oil production investment for first time -IEAInvestment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency said on Thursday, with solar projects expected to outpace outlays on oil production for the first time.
Källa: ReutersScience - 🏆 559. / 51 Läs mer »

Centennial Parks Conservation Fund puts $1 billion investment on ballotAn incredible victory for wildlife and all Texans who enjoy spending time in the great outdoors,” Environment Texas Executive Director Luke Metzger said. Metzger and his team believe the Centennial Parks Conservation Fund couldn’t come at a better time.
Källa: SpectrumNews1TX - 🏆 333. / 59 Läs mer »

Shari Redstone’s National Amusements Receives $125 Million Investment From BDT Capital PartnersNational Amusements, the parent company of Paramount Global, has received a $125 million investment from BDT & MSD Partners, an investment firm that specializes in supporting family-controlled …
Källa: Variety - 🏆 108. / 63 Läs mer »