Structured products industry wary of fiduciary standards proposals
A report by the US Securities and Exchange Commission in January that paves the way for the implementation of a fiduciary standard for broker-dealers has left the structured products industry bracing itself for changes to how it conducts its business. Clare Dickinson reports
When the US Securities and Exchange Commission (SEC) released its report suggesting there should be a uniform fiduciary duty for broker-dealers and investment advisers it raised few eyebrows - after all, it seemed this is what the Dodd-Frank Wall Street Reform and Consumer Protection Act was gunning for when it commissioned the study - but what happens next could have a big impact on structured products.
The SEC has released no further details about its intentions, but many structured products
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