On 18 April 2013, the International Organization of Securities Commissions (IOSCO) opened a consultation (closing 13 June 2013) on the regulation of retail structured products. Among other things, the report:

  • provides background to the project,
  • describes the work undertaken by the working group on retail structured products of IOSCO's task force on unregulated markets and products (TFUMP),
  • analyses trends in the retail structured product market,
  • proposes a regulatory toolkit that IOSCO members could use in their regulation of retail structured products.

IOSCO looked at the market's drivers for supply-side (issuer and distributor) behaviour and demand-side (investor) behaviour. The working group looked along the market's value-chain, from issuance to distribution to investment.