Dealers rue loss of US structured product issuance freedoms
The prized ‘well-known seasoned issuer’ status has been removed from a number of banks operating in the US in recent years – with frustrating consequences for their structured note programmes
It's the nightmare scenario that haunts every driver. Running late for an appointment and desperate to make up for lost time, you hit the accelerator going through a reduced speed zone. The police pull you over and issue a speeding ticket. This isn't your first. Next thing you know, a letter arrives in the post saying your licence has been revoked. At a stroke, your freedom to travel is drastically curtailed.
US-based structured product issuers are plagued by a similar anxiety. This concerns
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