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Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, May 12, 2008

Principles for Distribution of Structured Products to Individual Investors Released

Five leading trade associations, co-sponsors of the Joint Associations Committee (JAC), today released an exposure draft of “Structured Products: Principles for Managing the Distributor-Individual Investor Relationship.” The global, non-binding, Principles address a wide range of issues affecting distribution of structured products to individual investors and reflect "collective industry expectations of integrity, professionalism, and ethical conduct in the retail structured products market,” according to Timothy Hailes, managing director and associate general counsel at JPMorgan Chase in London who is Chairman of the joint-associations working group that developed the Principles.

The Principles are the product of a coalition of trade associations that form the JAC, which comprises:  European Securitisation Forum (ESF), International Capital Market Association (ICMA), London Investment Banking Association (LIBA), the International Swaps and Derivatives Association (ISDA®) and SIFMA.  The principles were based on extensive work and collaboration with the associations’ member firms, and on consultation with distributor associations.  The JAC invites public comments on the Principles until June 16, 2008. 

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