IMA launches fresh attack on struc prods

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IMA chairman Robert Jenkins has reignited the trade body's attack against structured products, questioning whether regulators are "asleep" on tackling the industry.

Speaking at the FSA’s Asset Management Conference today, Jenkins says the nature of the ‘deceptively simple but complex’ products is at odds with traditional investment industry values. His comments follow stinging criticism from IMA chief executive Richard Saunders last week, who said structured product providers' promotional material "should not be taken at face value". “They (structured products) carry issuer risk, liquidity risk, and a level of costs which the retail buyer may not fully understand,” Jenkins says. “Yet this is an area largely free from regulatory oversight and compet...

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