“Structured Thoughts” is Morrison & Foerster LLP’s newsletter relating to developments in the structured products industry. This page sets forth hyperlinks to our prior issues, and a list of the articles in these issues.
- 10/15/2013 Volume 4, Issue 13
- FINRA’s Report on Conflicts of Interest: Issues for the Structured Products Market
- Structured Notes, Their Hedges, and Dodd-Frank
- 9/3/2013 Volume 4, Issue 12
- General Solicitation, Bad Actors and Structured Products
- The Known Unknowns: Offering Terms that Are Determined After the Time of Pricing
- 8/12/2013 Volume 4, Issue 11
- Complex Products and Conducting a Reasonable Basis Suitability Review
- Guidelines for Presenting Backtested Performance Data
- IOSCO Final Report on Principles for Financial Benchmarks
- Protect Your Elders, Part II
- “Retailisation” of Structured Products in the EU
- FINRA FAQ on TRACE Reporting and Variable Price Reofferings
- FINRA Postpones Rule Requiring Disclosure of Enhanced Compensation
- iShares Changes Names of Widley Used ETFs
- 7/9/2013 Volume 4, Issue 10
- Chasing Return, Reprise
- IOSCO: Uniform Regulation and More Transparency for ETFs
- FINRA Removes Proposal to Require Supervision of Non-Securities Business
- In Case You Missed It…
- 6/17/2013 Volume 4, Issue 9
- UK’s FCA Restricts Marketing of Unregulated Collective Investment Schemes and Similar Products to Retail Investors
- Electronic Structured Note Systems and U.S. Securities Regulation
- Reminders from the SEC and FINRA
- 5/15/2013 Volume 4, Issue 8
- Due Diligence Procedures for Structured Notes Distributors
- Key Issues for Yankee CDs
- The SEC and FINRA: Protect Your Elders
- The FSOC’s 2013 Annual Report: Increasing Exchange-Traded Product Activity
- SEC Discusses Estimated Value at Structured Products Conference
- 5/6/2013 MoFo Client Alert
- IOSCO Consultation Report on Financial Benchmarks
- 5/2/2013 Volume 4, Issue 7
- Regulating Retail Structured Products – The IOSCO Toolkit
- 4/26/2013 Volume 4, Issue 6
- FINRA Issues Guidance on Backtested Performance Data
- FINRA’s Ketchum Discusses Structured Products
- Update Regarding TRACE and Rule 144A Securities
- 4/12/2013 Volume 4, Issue 5
- FINRA’s 2013 Communication Rules and Revisions to MSDAs
- Regulation R and Bank Sales of Structured Products
- FCA Temporary Product Intervention Rules: Nipping It in the Bud
- 2/28/2013 Volume 4, Issue 4
- Additional SEC Guidance on Estimated Value Disclosures
- 2013 OCIE Examination Priorities Have Implications for Structured Products Issuers and Dealers
- EITF and the Federal Funds Rate
- FDIC Proposes to Nix Insurance for Dually Payable Deposits
- 2/6/2013 Volume 4, Issue 3
- Reverse Inquiry Transactions in the Spotlight
- How Will the Fed’s Proposed Foreign Bank Rules Affect Foreign Bank Debt Financing Activities in the U.S.?
- IOSCO Commences Consultation on Benchmarks
- Extended Settlements and Regulation T
- 1/24/2013 Volume 4, Issue 2
- IOSCO Publishes Suitability Requirements for Distribution of Complex Financial Products
- 1/16/2013 Volume 4, Issue 1
- Additional SEC Guidance on Estimated Value Disclosures
- FINRA to Continue Its Focus on Structured Products
- FINRA’s Ketchum Discusses Structured Products
- FINRA Issues Q&A Guidance on New Communications Rules
- FINRA Proposal Requires Disclosure of Enhanced Compensation
- 12/18/2012 Volume 3, Issue 14
- Dividend Adjustments on the Way
- Federal Court Decision Supports Use of “Big-Boy Letters”
- FINRA Updates Its Suitability Questions and Answers
- FINRA Rule 5123 Excludes Some, But Not All, Options
- Commodity Pool Issues
- Indices: GFMA’s Framework of Principles
- Division of Investment Management Lifts ETF Ban, But Not For Leveraged ETFs
- Here Comes 2013…
- 11/13/2012 Volume 3, Issue 13
- EU Regulation on Short Selling: Impact on U.S. Issuers of Structured Notes
- Focus on Conflicts
- Revised FINRA Communications Rules: A Summary Table for Market Participants
- 10/12/2012 Volume 3, Issue 12
- Indices—Principles for Financial Benchmarks
- Proposed Extension of Rule 206(3)-3T
- MNPI and Structured Products
- Investments by Federal and State Savings Associations
- 10/1/2012 Special Issue
- It’s Complicated: A Recap of SIFMA’s Complex Products Conference
- 9/19/2012 Volume 3, Issue 11
- Is Bigger Better? Or Do Good Things Come in Small Packages?
- Proposed SEC Regulations Under the JOBS Act Increase Options for Private Structured Note Programs
- “Is Our Children Learning?” Not about Financial Instruments
- “Plain English” Ends ProShares ETF Class Action
- 7/20/2012 Volume 3, Issue 10
- FINRA Voices Concerns About Exchange-Traded Notes
- Worth the Wait? Draft PRIPs Legislation Finally Published
- 6/21/2012 Volume 3, Issue 9
- FINRA Announces Effective Date of New Rules re Communications with the Public
- The Federal Banking Agencies’ Regulatory Capital Proposals
- New FINRA Rule 5123 on Private Placements
- FDIC Issues Investor Alert Relating to Structured CDs
- 5/30/2012 Volume 3, Issue 8
- FINRA’s New Guidance Relating to Suitability – Potential Impact on Structured Products
- FINRA’s Consent Agreements Target Supervisory Systems and Procedures in the Sale of Non-Traditional EFTs
- Massachusetts Fines Broker Dealer for Sales of Non-Traditional ETFs
- 4/19/2012 Volume 3, Issue 7
- SEC Announces Sweep Relating to Structured Products
- 4/11/2012 Volume 3, Issue 6
- U.S. Treasury Seeks Comment on Issuances of Floating Rate Notes
- Impact of the JOBS Act on Private Structured Product Programs
- FINRA Revises Proposal re Communications with the Public
- “SEC Speaks” Addresses Structured Products
- Institutional Suitability Certification
- Section 3(c)(7) Exception under the 1940 Act
- Exchange-Traded Notes Update
- Debt Research
- 4/2/2012 Volume 3, Issue 5
- Final Structured Products Guidance from the FSA
- 3/28/2012 Volume 3, Issue 4
- Complex Financial Products: IOSCO Suitability Requirements
- 3/21/2012 Volume 3, Issue 3
- FINRA Priorities
- Know Your Distributor
- Best Execution
- 2/6/2012 Volume 3, Issue 2
- Nasdaq Proposes Listing Rules Relating to Structured Products
- Texas District Court Issues Ruling on Application of the 1933 Act on CD’s
- 1/19/2012 Volume 3, Issue 1
- FINRA Notice Regarding Complex Products
- FINRA’s Recent Consent Agreement: A Continued Focus on Adequate Supervisory Systems and Procedures in the Sale of Reverse Convertible Notes
- FINA Revises Proposal re Communications with the Public
- SEC Announces Second Extension of Comment Period for Conflict of Interest Rules
- 12/15/2011 Volume 2, Issue 16
- Proposed Amendments to OCC Regulations
- Taxation of Financial Instruments
- FINRA Sweep Letter
- Circuit Breaker Proposals
- ISDA/SIFMA Challenge Position Limits
- SEC Extends Comment Period for Conflict of Interest Rules
- 12/5/2011 Volume 2, Issue 15
- Structured Products Guidance from FSA
- 11/8/2011 Volume2, Issue 14
- Conflicts of Interest
- Volcker Rule
- SEC’s Staff Legal Bulletin on Legal Opinions
- Focus on ETFs/ETNs
- Revised FINRA Proposal Applies Content Standards of Rule 2210 to Broadly Disseminated FWPs
- 10/5/2011 Volume 2, Issue 13
- SEC Tackles Fund Use of Derivatives
- Watch the CDS Spreads
- Back-Testing
- Rule 206(3)-3T; and Principal Transactions
- 8/25/2011 Volume 2, Issue 12
- Credit Ratings and Credit Risk: Frequently Asked Questions
- New Hampshire Announces Structured Products Settlement
- 8/2/2011 Volume 2, Issue 11
- The SEC’s Report of Its Sweep Examination of Retail Structured Products
- RIC Commodity Ruling Update
- In re Lehman Brothers and Principal Protection
- 7/27/2011 Volume 2, Issue 10
- FINRA’s Proposed Revisions to Rule 2210, Communications with the Public: Expected Impact on the Structured Products Market
- FINRA Warns Investors About Chasing Returns in Structured Products and Other Investments
- State of Georgia Reviewing Offerings of Reverse Convertible Notes
- 7/14/2011 Volume 2, Issue 9
- The Approach to Developing Common Suitability Standards for the Sale of Complex Financial Products: An Industry View
- “Principal protected:” Fair, clear, and not misleading? UK guidance on promotions of structured products
- UIT Basics
- 7/7/2011 Volume 2, Issue 8
- Family Offices
- The Freezer: Holding Structured Products in Inventory
- Products Intervention: An Update
- 6/20/2011 Volume 2, Issue 7
- The SEC’s Proposed Amendments to Regulation M: Potential Impact on Structured Notes
- Update on FINRA Know Your Customer and Suitability Compliance
- 6/7/2011 Volume 2, Issue 6
- Regulators Turn to the Stability Risks Presented by the Explosive Growth of Exchange-Traded Funds
- 6/2/2011 Volume 2, Issue 5
- Principal Protected Note Tutorial from SEC and FINRA
- FINRA Priorities
- Why So Many Opinions? Exhibit 5.1 Opinions
- Principles Applicable to Retail Structured Products Reaffirmed
- Summary of Key Issues from Recent FINRA Fines
- Upcoming Teleconference
- 4/14/2011 Volume 2, Issue 4
- FINRA’s “Principal Protected” Consent Agreement with UBS: Lessons and Reminders for the Structured Products Industry
- FINRA Delays Effective Date for New Suitability and Know-Your-Customer Rules
- 3/11/2011 Volume 2, Issue 3
- Blue Sky Laws and Bank Notes
- 2/22/2011 Volume 2, Issue 2
- Repackagings
- Fiduciary Duty: An Update
- IFLR Derivatives and Structured Products Conference
- FINRA Rule 5122 Revisions May Affect Certain Structured Products
- 1/20/2011 Volume 2, Issue 1
- Suitability Update: Effective Date of New FINRA Rules
- Proprietary Indices
- When Is an Offering Completed? And Why Does It Matter?
- 12/17/2010 Volume 1, Issue 18
- EU Commission’s Further Consultation on PRIPs
- 12/14/2010 Volume 1, Issue 17
- A Summary of FWP Filing Requirements Under SEC and FINRA Rules
- SEC Proposes to Extend Effectiveness of Rule 206(3)-3T
- 11/23/2010 Volume 1, Issue 16
- Proposed ERISA Regulation Would Expand Persons Considered Fiduciaries
- Disclosure Statement for Retail Investors
- Know Your Customer and Suitability Update
- 11/5/2010 Volume 1, Issue 15
- Joint Report of the 3L3 Task Force on PRIPs
- 10/26/2010 Volume 1, Issue 14
- FINRA Issues Notice to Members re Securities Linked to Commodity Futures
- FINRA Issues New Guidance Regarding Content, Approval and Filing Requirements for Free Writing Prospectuses
- Reverse Convertibles
- 10/4/2010 Volume 1, Issue 13
- Suitability Update
- Ratings Update
- Basel III
- Structured Certificates of Deposit: A Primer
- 9/9/2010 Volume 1, Issue 12
- Fixed Versus Variable Priced Offerings
- Section 3(a)(2) and Offerings by Banks
- Minimum Denomination Requirements
- Fitch Withdraws Ratings from Non-Principal-Protected Structured Notes
- 8/13/2010 Volume 1, Issue 11
- What’s Complex? CESR Provides Technical Advice
- 7/20/2010 Volume 1, Issue 10
- HK SFC’s New Regime on Unlisted Structured Investment Products
- SEC Reviews
- Summary of Derivatives Regulations
- 6/29/2010 Volume 1, Issue 9
- The Impact of Financial Regulatory Reform on Structured Products
- Clearing the Way for Reform: European Commission Public Consultation on Derivatives and Market Infrastructures
- 5/12/2010 Volume 1, Issue 8
- Retail Investor Disclosure Under the New UCITS KID
- 4/15/2010 Volume 1, Issue 7
- Sharia-Compliant Structured Products
- 3/29/2010 Volume 1, Issue 6
- CESR Public Consultation Relating to Application of the Mifid Appropriateness Test to Certain Structured Products
- European Regulatory Initiatives Relating to Structured Products
- SEC Staff to Evaluate Use of Derivatives by Funds; Defer Consideration of Leveraged ETFs
- Commodities and Derivatives Reform (as of March 15, 2010)
- 3/17/2010 Volume 1, Issue 5
- Section 23A Issues
- UK FSA Initiatives Relating to Retail Investment Products
- 2/25/2010 Volume 1, Issue 4
- Update on the Proposed AIFM Directive
- 2/20/2010 Volume 1, Issue 3
- Structured Products Regulatory Developments: an update
- on the EU actions on PRIPs
- 2/3/2010 Volume 1, Issue 2
- FINRA Amendments Expanding TRACE to Include Agency Debt Securities and Primary Market Transactions Become Effective March 1, 2010
- S&P Withdraws Ratings from Equity- and Commodity-Linked Structured Notes
- Is Bigger Better? To Tap, or not to Tap? (Re-openings)
- 1/12/2010 Volume 1, Issue 1
- FINRA Issues Notice to Members re Principal Protected Structured Notes
- Leveraged and Inverse Exchange-Traded Funds
- SEC Adopts as Final Rule 206(3)-3T