Page 48 - 期货和衍生品行业监管动态（2025年11月）

期货和衍生品行业监管动态

确保完全理解投资产品及其成本。”

FCA 本次对差价合约提供商的审查，重点评估了不同规模企业实现公允价

值的情况，包括成本与收费的披露机制。

FCA Review Finds CFD Providers May be Failing to Deliver Fair Value to

Consumers (2025/11/13)

Contracts for Difference (CFD) providers have been warned by the FCA to

provide fair value, after its review found some firms had not risen to the Consumer

Duty.

Introduced in July 2023, the duty set a higher standard for consumer protection

in financial services.

Some good practice was in evidence, including firms simplifying fee structures

and stopping investors who might not be able to shoulder losses from buying CFDs in

the first place. However, the FCA’s review found room for improvement, including

where firms were:

 not adequately considering consumer complaints or customer

satisfaction as part of their fair value assessments

 making little or no changes to their products or services in response to

the Consumer Duty

 applying varying levels of overnight funding charges without providing

clear justification – the potentially significant charges often were not

adequately disclosed

 charging overnight funding separately on matched long and short

positions, incurring potentially significant ongoing charges with little

benefit for the consumer

Where necessary, the FCA will engage directly with firms included in this review

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