ESMA has updated its Q&As on the application of MiFID to the marketing and sale of CFDs and other speculative products (such as binary options and rolling spot forex) to retail clients. The Q&As include nine new questions and answers in sections 3 to 5, which address the following topics: (i) the information provided to clients and potential clients about how CFDs and other speculative products work and the risks involved, including marketing communications; (ii) the assessment of appropriateness when offering CFDs or other speculative products to retail investors; and (iii) factors for NCAs to take into account when considering commercial arrangements between two authorised firms that result in the offer of CFDs or other speculative products to retail clients. ESMA first published the Q&As in April 2016.