Cover story

The long-running UK precipice bond scandal gave structured products a bad name. And, as we report later in this issue (see pages 22–24), confusion surrounding the ratings of retail collateralised debt obligations in Italy has also dampened the appeal of complex structures.

But, overall, the market looks healthy. Issuance in continental Europe continues to develop at a healthy pace and research from London-based Arete Consulting shows that the UK market for structured retail products has already

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