Editor's letter: Lost in semantics

Richard Jory

Structured products have been the victim of semantics so often that it comes as no great surprise that a country as rule-obsessed as Singapore wants to ban the use of the phrase ‘capital protected’ from the sales and marketing process.

The decision comes from the Monetary Authority of Singapore (MAS), and accompanies a review that includes another statement often heard in Europe – that structured products are ‘complex’ investments. Not only are structured products defined by the MAS as complex,

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