My latest reply
Thanks for your email.
Unfortunately the only information we can provide is summarize in the following points.
IG became aware of numerous financial institutions performing reviews of the regulatory and political implications of offering Cannabis stocks in the UK with a recreational link.
As a consequence ofIG’s own analysis, the stocks detailed in the email recently sent no longer sit within IG’s risk appetite. The business decision has been made to take the action as quickly as possible but within the legal allowances detailed in IG’s Customer Agreement.
Due to the regulatory uncertainty, and following the analysis performed, IG has determined that it will not facilitate transfer of stocks to other providers at this time.
We can continue to offer CFDs on this product becauseof the additional regulatory certainty with regards to derivatives referencing the underlying stocks. IG uses swaps to hedgeour clients’ CFD trades with us. No physical trading of recreational linked cannabis stocks will take place.
IG are aware ofother firms that have reached the same conclusion following their own analysis.
Customer agreement gives IG or the client the right to terminate the relationship, or a part of it, with 30 days’ notice. Section 26:‘(4) We may terminate or Suspend this Agreement and any arrangements hereunder with you by giving you 30 days’ written notice.’
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