Adviser knowledge gap at heart of struc prod failings

Its report, Quality of advice on structured investment products, paves the way for consumer complaints against advisers as it highlights a catalogue of failings around how the risk of the products was assessed. The regulator was also highly critical of the fact most firms failed to make improvements to their systems and controls following Lehman’s collapse.   Its report found the level of advisers’ understanding of structured products to be poor across nearly half of the firms surveyed, which accounted for 24% of Lehman-backed structured product sales by value. This included firms of diff...