The Structured Products Committee focuses on market practice and related issues arising from the embedding of derivatives in other instruments. Reflecting the hybrid nature of such instruments, the Committee mainly proceeds by means of joint work with securities-focused trade associations. Market practice issues relate notably to the interface between wholesale product markets and retail distribution, which may raise varying supervisory issues, depending on the jurisdiction or jurisdictions involved.

  • Chair: Timothy Hailes, JP Morgan Chase (London)

Staff contact:

How to Join

SUBJECT
STATUS
AVAILABLE DOCUMENTS

JAC response to current consultations on the Packaged Retail Investment Products(PRIPs) Initiative

Joint Association Response - Submitted February 1, 2011

JAC submission

ISDA/ASIFMA comments  on the Securities and Futures and Companies Legislation (Structured Products Amendment) Bill Joint Associations Response – Submitted December 2, 2010 Please contact ISDA-HK if you would like a copy of this document

AMF paper on the marketing of investment funds and complex debt securities to French retail clients

Published October 15, 2010

AMF Paper

EU Commission Consultation on PRIPs Open until January 31, 2011 Consultation Paper
FINMA Consultation (Switzerland) Open until April 15, 2011 Discussion Paper

JAC KID: Template and Submission

Joint Associations Response – Submitted July 01, 2010

JAC Submission

JAC form of KID with completion notes

IOSCO’s Consultation Report on Principles of Point of Sale Disclosure

Joint Associations Response - Submitted February 15, 2010

JAC Response

Consultation Paper on Proposals to Enhance Protection for the Investing Public issued by the Hong Kong Securities and Futures Commission on 25 September 2009 and (ii) the Consultation Paper on Possible Reforms to the Prospectus Regime in the Companies Ordinance and the Offers of Investments Regime in the Securities and Futures Ordinance

Joint Associations Response - Submitted December 30, 2009

JAC Response
Cover Letter

European Commission’s 22nd October 2009 Workshop on Packaged Retail Investment Products (PRIPs)

Joint Associations Response - Submitted November 2009

JAC Response

CONSOB's Consultation Paper of 14 July 2009 on recommendations relating to the offering prospectus or admission to trading of financial products not representing capital

Joint Associations response, with ICMA and SIFMA, submitted – October 2009

JAC Response

Key information document (KID) for investors in structured UCITS funds – CESR consultation

Joint Associations response, with ICMA and SIFMA, submitted – September 2009

JAC response

UK: FSA’s proposed new chapter on Perimeter Guidance

Joint Associations responded, July 2009

Response
BaFin Consultation 11/2009 - Marketing Material for Retail Clients August 2009 Open German Consultation

Konsultation 11/2009 - Entwurf eines Schreibens zur Auslegung der Vorschriften des WpHG über Informationen einschließlich Werbung von Wertpapierdienstleistungsunternehmen an Kunden

Konsultation 11/2009 - Entwurf eines Schreibens

Format and content of Key Information Document disclosures for UCITS; In August 2009, CESR published an official consultation paper Consultation available at www.cesr.eu/index.php?page=consultation_details&id=147
Consultation on MiFID complex and non-complex financial instruments, re the Directive’s appropriateness requirements CESR publishes responses to the consultation Information available at www.cesr-eu.org/index.php?page=home_details&id=425
EU work stand on ‘Packaged Retail Investment Products’ (ie, Retail Structured Products) Commission Communication published, April 2009 Communication from the Commission on Packaged Retail Investment Productsmunication
CESR consultation on Key Information Document Joint ISDA-SIFMA response submitted Joint Associations response
Industry Associations Release “Structured Products: Principles for Managing Distributor-Individual Investor Relationship” Structured Products: Principles for Managing the Distributor-Individual Investor Relationship

Press Release

Principles

EU Commission Call for Evidence on Substitute Retail Investment Products. Concerns consistency of regulatory treatment of retail investments including structured products, with particular emphasis on disclosures and conflicts management. Issued by EU Commission on October 26th 2007 – comment deadline January 18th 2008. Response to Call for Evidence

Call for Evidence

Managing the provider-distributor relationship in retail structured products.

Principles published on 10th July, 2007. The Principles are global, non-binding and sponsored by ISDA jointly with four other associations. NB this set supersedes the exposure draft issued on April 18th 2007

Retail structured products; Principles for managing the provider-distributor relationship
UK FSA Treating Customers Fairly initiative – Guidance on provider and distributor responsibilities. FSA Guidance published on 16th July, 2007. A Feedback and Policy Statement accompanies the Guidance. PS 07/11 – Responsibilities of providers and distributors for the fair treatment customers (Feedback on DP 06/4)
Update on current market conditions Delivered      Conference speech

 

 

  Last Updated: February 1, 2011