CMC posts profit warning; Foley resigns
New Esma margin rules have “resulted in retail clients trading less”, online trading firm says
Online trading firm CMC Markets has warned its revenue has taken a hit from recent regulation, while chief operating and financial officer (COO/CFO) Grant Foley says he is stepping down from his roles.
CMC, which provides a platform for spread-betting or trading contracts-for-difference (CFDs), said in an update that client trading has decreased in the wake of European Securities and Markets Authority measures introduced on August 1, which restrict the marketing, distribution and sale of CFDs
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