Dealers rue loss of US structured product issuance freedoms

SEC’s removal of special status from select banks hits marketing and issuance capacity

ball-and-chain
Loss of WKSI status can weigh heavily on dealers' structured note programmes

It's the nightmare scenario that haunts every driver. Running late for an appointment and desperate to make up for lost time, you hit the accelerator going through a reduced speed zone. The police pull you over and issue a speeding ticket. This isn't your first. Next thing you know, a letter arrives in the post saying your licence has been revoked. At a stroke, your freedom to travel is drastically curtailed.

US-based structured product issuers are plagued by a similar anxiety. This concerns

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