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Question
Guest Deanog
Hi,
Can you please give me the explanation to why IG will only let me do Closing Only trades on Tic: Bloc. Blockchain Worldwide.
Seems other Brokers will still let you trade this.
I contacted the PR an asked what is going on and this is the reply I got.
The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation came into force on 1 January 2018, having been delayed for a year. The basic point of it is to require ‘manufacturers’ of PRIIPs to provide retail investors with an easily digestible level of information about the investment product in a uniform manner (in a Key Information Document). Broadly, the Regulation is directed at retail investment products such as retail funds as well as retail structured products and structured deposits, insurance products and life insurance products that hold an investment element. There’s a specific exemption from the Regulation for corporate shares (i.e. shares in our clients) directly held by the investor – i.e. shares like Blockchain.
We have raised the issue with the Company but it seems that the online brokers need to be the ones educated in this matter.
Hope this helps.
Best regards,
Looking forward to reading why IG will not let me trade this.
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