ESMA has updated its Q&As on the provision of contracts for difference and other speculative products to retail investors under MiFID. ESMA introduces a new Q&A which addresses conflicts of interests arising from business models that firms offering speculative products to retail investors may adopt. In particular, ESMA clarifies the conflicts of interest aspects that competent authorities should consider when a firm uses other parties to perform activities on its behalf and highlights that firms must manage conflict of interests that may arise as a result of remuneration between the parties, which could incentivise behaviour that is not in the best interests of retail clients. ESMA first published the Q&As in April 2016.