FCA's Wheatley: structured products are “like spread bets on steroids”

Martin Wheatley

Structured products industry participants are on the defensive after Martin Wheatley, chief executive of the UK Financial Conduct Authority (FCA), called the products "spread bets on steroids" in a speech at the London School of Economics on April 10.

"Some of the more exotic structured products offered by firms... have often been mind-bogglingly complicated financial gambles - almost like spread bets on steroids," said Wheatley in his first speech since taking the helm at the newly formed agenc

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