Europe-wide investor alert issued on complex product dangers

The European Securities and Markets Authority (ESMA) warned consumers not to buy products if they did not understand the key features or the key risks.  In a separate warning to providers, it urged them to be vigilant about selling practices in light of the Markets in Financial Instruments Directive (MiFID). ESMA said investment firms selling complex financial products to investors must operate with MiFID rules in mind and raised concerns that firms' compliance so far "may have fallen short of expected standards". Its concerns relate mainly to the suitability and appropriateness of...