The UK Structured Products Association (SPA) has branded the IMA "misleading" after the trade body criticised complex structured products for their "hidden risks".
In its response to the Financial Services Consumer Panel's (FSCP's) 10-point plan for financial services, the IMA said: "We support the call for transparent product design and good communication which enables customers to compare products. "We have long been concerned about complex structured products with hidden risks and unnamed counterparties." But the SPA says the IMA has put a negative slant on the FSCP's statement, deliberately singling out structured products. The first of the FSCP's 10 points calls for "straightforward" products which "do what they say on the tin." It make...
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