FSA more sanguine on structured deposits as Lord Turner scorns innovation

Leaving structured deposits alone

Recent damning criticisms of structured products by Lord Adair Turner, chairman of the UK's Financial Services Authority (FSA), do not tally with the comments and observations included in the regulator's Retail conduct risk outlook (RCRO) published yesterday (March 13). Lord Turner's comments came in an interview with The Times newspaper published today (March 14), in which he warns that the term innovation is being abused and accuses UK bankers of "over-complicated product innovation".

Lord Tur

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