IOSCO has published a final report on "Suitability Requirements with respect to the Distribution of Complex Financial Products", which sets out principles relating to the distribution by intermediaries of complex financial products to retail and non-retail customers.

This Final Report (which follows a consultation last February) includes the following key principles: classification of customers; general duties irrespective of customer classification; disclosure requirements; protection of customer from non-advisory services; suitability protections for advisory services (including portfolio management); compliance function and internal suitability policies and procedures; incentives; and enforcement.