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:
- Richard Metcalfe (rmetcalfe@isda.org)
| SUBJECT
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STATUS
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AVAILABLE
DOCUMENTS |
IOSCO’s Consultation Report on Principles of Point of Sale Disclosure |
Joint Associations Response - Submitted February 15, 2010 |
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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 |
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European Commission’s 22nd October 2009 Workshop on Packaged Retail Investment Products (PRIPs) |
Joint Associations Response - Submitted November 2009 |
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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 |
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Key information document (KID) for investors in structured UCITS funds – CESR consultation |
Joint Associations response, with ICMA and SIFMA, submitted – September 2009 |
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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 | |
| 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 | |
| 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 |
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 15, 2010 |