Barriers to entry
Accounting rules have long given bankers headaches. And IAS 39 compliance could even put banks looking to enter the structured products market at a competitive disadvantage. Patrick Fletcher examines how the rules are affecting the shape of the industry
Banks are looking to enter the structured products market in a big way. And last month, Morgan Stanley pointed out that asset managers are also making inroads into the market, and that the firms with the healthiest profits are structured products specialists (see page 16). There is a hitch, however. Banks looking to establish a structured products desk from scratch could face opposition from
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