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Response to IOSCO on suitability requirements for the distribution of complex financial products

7 Jun 2012

IBFed has joined with other trade associations to respond to proposals from IOSCO regarding suitability requirements for the distribution of complex financial products.

The response welcomes the engagement of IOSCO but argues that a focus on “complex” financial products rather than all financial products would be difficult to implement and administer for regulatory authorities, firms and customers and would ultimately lead to worse outcomes. We therefore strongly suggest that in adopting final principles, IOSCO adopt an approach that is applicable to all securities, collective investment schemes and related derivatives instruments and the balance of risk and reward associated with them and that the references to “complex” financial products be largely dropped from the principles and guidance.

Public Comment on Suitability Requirements on Distribution of Complex Financial Products
Combined principles for retail structured products
 
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