JAC Letter to the EC on PRIIPs

On October 17, the Joint Associations Committee on Retail Structured Products (JAC) called on the European Commission to delay the application of the PRIIPs Regulation by one year to January 3, 2018 in order to allow proper time for the Level 2 text to be amended, agreed and consulted on, and to align the timing with MIFID II/R. The JAC letter was supported by ISDA, ICMA, the FIA and the GFXD arm of GFMA. The letter focuses on the technical reasons why this is the only viable course of action to safeguard the interests of retail investors and ensure proper market functioning.

Addressing Termination Troubles

When Enron announced a shock $618 million loss on October 16, 2001, it took a further 47 days until it filed for bankruptcy. For Bear Stearns, it took 266 days between its bailout of a structured credit fund run by...