by Sharon Flaherty
FTAdviser.com
There’s never a dull day (well not too many anyway) working in the financial services industry and here's a fine example.
Structured products, seemingly simple and boring on the outside, suddenly became rather interesting after the Investment Management Association (IMA) threw its two pennies worth into the ring.
In a statement to journalists across the industry, Richard Saunders, chief executive of IMA, warned against structured products because of their lack of transparency.
Source: FTAdviser.com
He said promotional literature on the products should not be taken at face value because promoters are under no obligation to report performance, making it hard to assess the accuracy of claims about product returns.
His comments, however, promoted a storm of both opposition and support.
SPA-2008
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