Friday August 06, 2010 at 12:00
It is disappointing that the IMA continues to be outdated with regard to structured products, said the SPA in a statement earlier this week.
Contrary to Ms Patterson's comments, structured products are governed by the same regulatory framework which monitors investment funds.
The Association said it agrees with Patterson that all investments for the retail market should be open and transparent, adding that 'some market commentators continue to require additional education about structured products as their most recent research into the sector pre-dates the events of the last few years'.
It said it will be contacting Patterson to discuss the concerns of the IMA.