Enter the quant enforcer

How good a deal do buyers of structured retail products really get? Italian regulators are using the same quantitative tools to test products that banks use to make them. Other European regulators will follow.By Matthew Crabbe

If you want to know about reputational risk and the structured retail productbusiness, ask Vincenzo De Bustis. De Bustis resigned as chief executive officerof Banca Monte dei Paschi di Siena (MPS) on March 25. According to the bank,this had nothing to do with complaints from customers about the performance ofits 4 You structured investment product.

However, De Bustis left the day after MPS issued a statement conceding, aftermonths of pressure from investor groups, that it will have to address

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