Prospectus Directive amendments spell bad news for German retail investors, warn structured product providers
A 20-odd page document designed to aid investor protection in Germany is likely to be done away with once the European Securities and Markets Authority passes final judgement on its latest amendment to its own Prospectus Directive. Richard Jory reports from Frankfurt
By the middle of next year, two profound changes to the way that the structured products business in Germany is conducted will be either implemented or introduced in preparation for legal standing.
The first innovation marks a jump into the twenty-first century by Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin), Germany's finance regulator, and will permit product producers to submit issuer and product prospectuses electronically. Fewer trees will die as a result, while speed and
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