UK FSA has designs on retail product design
Comments by UK regulators have shown they intend to take a more intrusive role in the design of retail banking products, hoping to move the market away from complex and opaque structures
Do product innovation and complexity exacerbate risk along the chain of financial intermediation? An intuitive answer to that question would seem to be ‘yes’, but economic theory has led many to believe self-correcting markets would clear all such risks through innovative responses such as derivatives and securitisation. Previous regulatory and legislative responses to perceived problems of
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