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Central bank report on spreadbetting firms

  • 17-06-2011 9:07am
    #1
    keanos_boot
    Registered Users, Registered Users 2 Posts: 10 ✭


    Reading the central bank's report on spreadbetting firms http://www.irishtimes.com/newspaper/finance/2011/0617/1224299071029.html.

    Its a pretty damning report and I think the central bank should tell who the 4 firms are - its people's money and trust and they deserve to know if the firm they are dealing with is not up to scratch. It also applies to the firms who are not one of the 4 - they are getting tarnished as we do not know the identity of the bad ones.

    My guess is

    ...?

    I know ...are not one them as they said they were not inspected. Any ideas?
    Tagged:


Comments

  • #2
    ROK ON
    Closed Accounts Posts: 6,831 ✭✭✭ROK ON


    keanos_boot wrote: »
    Reading the central bank's report on spreadbetting firms http://www.irishtimes.com/newspaper/finance/2011/0617/1224299071029.html.

    Its a pretty damning report and I think the central bank should tell who the 4 firms are - its people's money and trust and they deserve to know if the firm they are dealing with is not up to scratch. It also applies to the firms who are not one of the 4 - they are getting tarnished as we do not know the identity of the bad ones.


    . Any ideas?


    Slightly off topic, and failing to meet regulatory requirements in this day and age is uncondonable. However I have worked for mifid regulated firms in the past. MIFID aint all its cracked up to be - in fact between it and UCITS I believe they represent a real threat to clients in terms of design of investment products. they exist IMHO as an ass covering exercise for major institutions.

    Off topic I know.


  • #3
    Seeorr
    Registered Users, Registered Users 2 Posts: 10 ✭Seeorr


    Anyone have a link to the MiFID regulations in download format? Had a look at the Central Bank website and couldn't find em.

    Why do you think those sites are the culprits OP, any particularly misleading info on their sites?


  • #4
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    You can't speculate to the names on this forum. If they are not named, there's a reason. Boards.ie could face legal action if it allowed such speculation.

    Feel free to discuss the article without speculating as to the name sof the companies.


  • #5
    keanos_boot
    Registered Users, Registered Users 2 Posts: 10 ✭keanos_boot


    Fair enough ixus, not looking to break the rules. My point is I'd want to know if the firm I was going to invest in was the subject if the report. It's a trust issue. But point noted


  • #6
    neris
    Registered Users, Registered Users 2 Posts: 20,084 ✭✭✭✭neris


    I signed up with two firms in the last few months and I know one of them put up a warning for me that spreadbetting mightnt be suitable and I had to tick a box to say I was happy to go ahead and understood the risk. The other firm just signed me up. Anyway just closed the 2nd account coz their trading platform and stop loss distances are rubbish.


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  • #7
    keanos_boot
    Registered Users, Registered Users 2 Posts: 10 ✭keanos_boot


    Seeorr wrote: »
    Anyone have a link to the MiFID regulations in download format? Had a look at the Central Bank website and couldn't find em.

    Why do you think those sites are the culprits OP, any particularly misleading info on their sites?


    MiFID is SI (Statutory Instrument) 60 of 2007 on www.irishstatutebooks.ie


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