Sales of reverse convertibles targeted by US lawsuit

Alice Yurke, Ashurst

A lawsuit against Eksportfinans and 29 other institutions has been filed regarding the sale of reverse convertibles in the US. While there is scepticism over the suitability of the lawsuit, it raises questions about the systems by which these investments are sold.

In the US, reverse convertibles are sold in large volumes to retail clients, often through small distributors and brokers. “You tend to see reverse convertibles more in the downstream retail sector, which is where you get a breakdown in

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