In accordance with Circular 208 – BaFin’s General Administrative Act regarding the restriction of marketing, distribution and sale of financial contracts for difference (CFDs) should they have an additional payments obligation, to retail clients in the territory of Germany, CySEC informs Cypriot Investment Firms to adjust their business models and marketing campaigns to include the new specifications as set by German Federal Financial Supervisory Authority (“BaFin”). To summarized, marketing material provided to retail clients must be clear and include all payment obligations of the client, if additional payment obligations not included in the material are found BaFin may proceed with banning the firm from providing services to the German territory.
