Complex products rule deemed ‘too broad’

Regulatory Update

The trade groups – the Bond Market Association, the International Swaps and Derivatives Association and the Securities Industry Association – have taken issue with Interagency statement on sound practices concerning complex structured finance activities, published by five financial services regulators. The original deadline for responses to the mid-May document was postponed at the request of the industry, which was incensed by the draft.

The draft guidance was published by regulators in res