Plus500 profit slumps, regulatory threat looms in Australia

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Reuters
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Online trading platform Plus500 Ltd reported a 56% slump in first-half earnings, citing financial markets that were "very stable" which it said limited trading opportunities for its customers.

Aug 13 (Reuters) - Online trading platform Plus500 Ltd PLUSP.L reported a 56% slump in first-half earnings, citing financial markets that were "very stable" which it said limited trading opportunities for its customers.

The company, which has also been hard hit by a regulatory clamp-down in Britain and the European Union on certain complex financial products, said on Tuesday that the Australian securities watchdog had received new powers to address any abuses in the sale and marketing of a range of such complex products.

(Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)

((Muvija.M@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3638; Reuters Messaging: muvija.m.thomsonreuters.com@reuters.net))

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