SPA seeks volunteers for new product classification initiative


The Structured Products Association (SPA) in New York is recruiting up to five US structured products firms to participate in a 90-day pilot programme to test a new classification initiative. The objective is to demystify structured products for retail investors by making the marketing of products more transparent. JP Morgan, UBS and Lehman Brothers are reportedly considering participating in the initiative.

The initiative "proposes a systematic naming methodology for structured investments in

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