The marketing, distribution or sale to retail clients of CFDs is restricted to circumstances where at least all of the following conditions are met:
(a) the CFD provider requires the retail client to pay the initial margin protection;
(b) the CFD provider provides the retail client with the margin close-out protection;
(c) the CFD provider provides the retail client with the negative balance protection;
(d) the CFD provider does not directly or indirectly provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, other than the realised profits on any CFD provided; and
(e) the CFD provider does not send directly or indirectly a communication to or publish information accessible by a retail client relating to the marketing, distribution or sale of a CFD unless it includes the appropriate risk warning specified by and complying with the conditions in Annex II.