The FCA outlines new proposals to crack down on financial spread betting, has this come as a shock to the industry?

The Financial Conduct Authority has outlined new proposals to crack down on financial spread betting. Financial spread-betting products known as "contracts for difference" are agreements that allow two parties to exchange the difference between the opening price and closing price of a contract. However they are notoriously risky- with an investigation by the FCA finding that 82% of investors lost money on them. Shares in spread betting companies fell dramatically today after the news. To find out more about the measures proposed, Simon was joined by Jake Green Regulation Partner at law firm Ashurst.