Credit Suisse re-enters Taiwanese retail market

Credit Suisse ­ which became the first firm to re-enter the Taiwanese structured product market for retail earlier this year ­ has launched a second deal in the market, the largest structured product of the year to date and what Credit Suisse bankers estimate will remain the largest of the year.

The Taiwanese retail market has effectively been closed since the collapse of Lehman Brothers, but Credit Suisse was the first to negotiate the Taiwanese regulator's new requirements for non-professional investors this year. The rules place intensive legal and documentation requirements on the bank, as well as requiring offshore distributors to appoint an onshore 'master agent' who assumes responsibility for the product and posts a security bond for investor protection.

For the first deal the