Incapital pulls plug on UK market as IFA distribution model proves difficult to crack
Distributor halts offerings in the UK after finding US model unsuited to this side of the Atlantic, say industry sources
The European arm of US structured products distributor Incapital stopped issuing structured products in the UK as of December 31, 2012. Industry participants attributed the move to margins, a more restrictive regulatory landscape and a distribution model that was not best suited to the UK market.
In total, three people have lost their jobs as a result of the firm's decision to pull out of the UK, including managing director James Chu. One trader in the UK has accepted a position at Incapital in
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