FSA chairman wrong to say product complexity equals unsuitability, says industry


Adair Turner, chairman of the UK Financial Services Authority (FSA), has warned that low interest rates make consumers highly vulnerable to the temptation of complex structured products, "which appear to offer the dream combination of higher return without higher risk".

In a speech at Mansion House in the City of London on October 20, Turner reiterated concerns about 'complex' products and repeated the long-running emphasis on product form rather than function. "The core problem is the

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