US regulators extend structured product proposal response period

Eight trade associations representing financial institutions asked the agencies to provide the public with an additional 30-day period to review, analyse and submit comments on the proposal.

The public comment period will now end on July 19.

Financial institutions have criticised the proposal – backed by the Federal Reserve, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision – as overly restrictive.

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