German banks add estimated values to PIBs
The DDV, Germany's structured products trade association, has obtained an agreement from the country's banks to provide retail investors with estimated values whenever a product information sheet is required
The German structured products market took a step forward in terms of transparency on May 1 with the introduction of issuer estimated value (IEV) for all investment products distributed to mass retail customers that require a Produktinformationsblatt (PIB) – the mandatory three-page disclosure summary document required by Bafin, Germany's financial markets regulator.
The disclosure of IEV is a voluntary measure adopted by all members of the Deutscher Derivate Verband (DDV), a national trade
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