Read the CySEC Circular C785
Memo #35-2026
CySEC Circular No: C785
Date: 10/06/2026
Subject: Requirements of the Spanish Securities and Exchange Commission (the ‘CNMV’) regarding the product intervention measures relating to contract for differences (the ‘CFDs’) and other leveraged products to retail investors in Spain
Purpose: To inform Cyprus Investment Firms regarding specific requirements of CNMV, the Spanish Securities and Exchange Commission.
In Summary:
CySEC has issued the Circular C785 on 10/06/2026 to inform the Cyprus Investment Firms that are marketing, distributing and selling CFDs and other leveraged products (including SQFs and perpetual futures, or analogue products) to retail investors in Spain to take all appropriate actions and measures to adhere to the Resolution of 11/07/2023 issued by the Spanish Securities and Exchange Commission (the ‘CNMV’), as interpreted and applied by the CNMV pursuant to its national legal framework.
Specific, further to Circular C602 which was issued by CySEC on 12/10/2023, at the request of the CNMV, CySEC hereby informs that the CNMV maintains the view that Spot Quoted Futures (SQFs) must be treated in Spain as contract for differences (‘CFDs’) for regulatory purposes and consequently considers that SQF are subject to the product intervention measures set out in both the CNMV Resolution of 2019 and the CNMV Resolution of 11/07/2023.
The CNMV Resolution of 11/07/2023 can be found on the following link:
Read the CySEC Circular C785
Read more news at Regulatory News
