Five leading financial industry trade associations are jointly releasing a draft set of non-binding principles relating to retail structured products.
The principles focus particularly on the management of the relationship between providers and distributors, from both perspectives.
The principles are drafted with no single jurisdiction in mind, the associations say. Rather, they are intended for global application. They note that the specific procedures that any firm might adopt to help it manage provider-distributor relationships for retail structured products will be a function of factors such as the jurisdiction or jurisdictions involved, the precise nature of the products and the nature of the relationship between the parties.
The associations who have facilitated the publication of the RSP Principles are:
- the European Securitisation Forum;
- the International Capital Market Association;
- the International Swaps and Derivatives Association;
- the London Investment Bankers Association; and
- the Securities Industry and Financial Markets Association.
The principles are being issued as an exposure draft for comment by close of business on May 30.