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With a batch of complaints flooding the European Securities Markets Authority (ESMA), the regulator has focused on elaborating on withdrawal requests terms. According to the central financial regulatory authority in Europe, National regulators will have to enforce a one day withdrawal term for companies that are offering retail trading products to clients, such as forex, CFDs and binary options.
The delays which clients have experienced with a number brokers, particularly from Cyprus, have substantially influenced the decision made by the ESMA to enforce this new strict deadline. The regulator has highlighted in its interpretation of MiFID laws that if a company is delaying withdrawal ... (read more)