The recent notice on complex products from the US regulator signals a revival of supervisory measures to balance out innovation and complexity.
In March 2022, US regulatory body Finra published a notice (reference 22-08) on complex products. This was the first major follow up in this area after its original document on the subject ten years ago (named 12-03). The current notice opens up many interesting issues about how to address investor protection in today’s markets. Back in 2012 when Finra first defined complex products as a concept, the investment world was a different place, coming out of the dotcom crash of 2000 and latter
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