FSA chairman wrong to say product complexity equals unsuitability, says industry
Structured product executives say Adair Turner is missing the point by focusing on product form rather than function in his recent Mansion House speech
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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