Shaken and stirred

John Ferry asks Luca Leoni, a manager in the client management product department at Capitalia in Rome, how a transparency programme for Italian structured products could transform the market

Italy is pressing ahead with reform of its banking sector. The latest stage in the ‘Patti Chiari’ (transparency pact) programme, which is designed to improve banking transparency and communication, could have a profound effect on sellers of retail structured investment products.

The Italian Banking Association (ABI), which is implementing the Patti Chiari programme, is working on a new initiative that aims to ensure that structured products cannot be mis-sold to retail investors. It wants banks

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