Structured Thoughts -- Special Issue October 1, 2012 -- It’s Complicated: A Recap of SIFMA’s Complex Products Conference


On September 27, 2012, SIFMA hosted a conference on Complex Products. The day-long session covered “complex products” and included various presentations about structured products and exchange-traded products. Many materials from the session are available on the SIFMA site, at

The program began with a presentation by FINRA head Richard Ketchum, who addressed the growth in sales of complex products offered to retail investors. Consistent with various recent FINRA pronouncements, in his remarks Ketchum indicated that FINRA was following closely the initiatives undertaken by foreign regulators as to complex products. Specifically, Ketchum noted that while we rely on a disclosure-based, and not a merit-based, approach, in recent years, foreign regulators have implemented merit-based assessments of complex products, which have resulted in certain products being prohibited for retail distribution. Ketchum noted that “If the industry and regulators are unable to demonstrate their ability to control sales practice abuses relating to complex products through appropriate supervisory controls and oversight, then some forms of product approval may become inevitable.”

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »


Morrison & Foerster is an international firm with more than 1,000 lawyers across 15 offices in the... View Profile »

Follow Morrison & Foerster LLP:

Reporters on Deadline

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.