UK law sparks bonfire of ‘unfair’ structured product terms

Obscure provisions in UK Consumer Rights Act could threaten issuance programmes

contracts-bonfire
Legal teams are busy eradicating problematic terms from product documentation

For most people, consumer rights laws are typically relied upon only when trying to return items such as a faulty toaster to a department store. In the UK, however, dealers are fretting that new consumer protection legislation could unexpectedly catch structured products sold to retail clients, sparking a scramble to purge documentation of terms that could be considered unfair, or even to redesign some products entirely.

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