FSA Issues Guidance On Structured Product Terms

The U.K.’s Financial Services Authority has proposed guidance on terms used by sellers of structured products, reports MoneyMarketing.

The U.K.’s Financial Services Authority has proposed guidance on terms used by sellers of structured products. In its quarterly consultation paper, issued June 3, the FSA stated, “some firms promote these products without any clear and adequate justification for the descriptions used,” which the watchdog says “could be implicitly misleading and could lead to consumers misunderstanding that is actually offered to them.” The FSA cited as example of unclear terms “guaranteed,” “protected” and “secure.”

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