FSA to target ETF promotional literature

Sheila Nicholl, the FSA's director of conduct policy, fired the warning shot at ETF providers and advisers who recommend their products at a meeting in London today. She said the FSA "shares concerns" with the European regulator about ETFs, and added it is an area the FSA and its European and international counterparts are looking at "very closely". Nicholl asked: "Does marketing and promotional material adequately explain the risks and the difference between them, particularly those with swap counterparty risk? To advisers she said: "Make sure you understand the product and the ri...