Thursday, May 15, 2008

Structured Products: Principles for Managing Distributor-Individual Investor Relationship

Industry Associations Release Exposure Draft of: “Structured Products: Principles for Managing Distributor-Individual Investor Relationship”

New York, NY, May 12, 2008 –Five leading trade associations, co-sponsors of the Joint Associations Committee (JAC), today released an exposure draft of “Structured Products: Principles for Managing the Distributor-Individual Investor Relationship.” The global, non-binding, Principles address a wide range of issues affecting distribution of structured products to individual investors and complement the JAC’s “Principles for Managing the Provider-Distributor Relationship,” which were released in July 2007.

“These global Principles reflect collective industry expectations of integrity, professionalism, and ethical conduct in the retail structured products market,” said Timothy Hailes, managing director and associate general counsel at JPMorgan Chase in London who is Chairman of the joint-associations working group that developed the Principles. According to Hailes, “The Principles provide common sense guidance on how firms can continue to enhance services targeted toward a growing number of individual investors.”

The Principles are the product of a coalition of trade associations that form the JAC, which comprises: European Securitisation Forum (ESF), International Capital Market Association (ICMA), London Investment Banking Association (LIBA), the International Swaps and Derivatives Association (ISDA) and SIFMA. The principles were based on extensive work and collaboration with the associations’ member firms, and on consultation with distributor associations.

The JAC invites public comments on the Principles until June 16, 2008. The exposure draft can be downloaded at (

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