We are now being more explicit as we are trying to aim at the top end of the market, said JFP senior partner Ian Millward. We are addressing the FSA guidelines and for us this is a sophisticated investment, although the vehicle is unchanged. Going forward, we will use the same approach. We prefer to be seen by the FSA as overly compliant rather than just compliant.

JFP's move reflects a departure from the way soft-protected products used to be marketed in the UK, with the emphasis on protection rather than the risks involved. JFP warns, in its literature, of conditions that will put investors' capital at risk, as well as highlighting a sentence stating the offer is aimed 'at HNW investors with appetite for risk'.

Our new product is a down-the-line, standard structured investment product, accompanied by clear-as-day literature which takes into account all the concerns voiced by the Financial Services Authority regarding the transparency of the products, said Millward.

Early Redemption Plan Issue 5 is a five-year product paying a return of 108.25%, 116.5%, 124.75%, 133% or 141.25%, depending on the anniversary on which the FTSE100 reaches or exceeds its initial level. Soft protection (American) is set at 50%, with one-for-one gearing. The product, issued by UBS Bank (rated A+ by Standard & Poor's and Aa3 by Moody's), will be available until 18 December 2009 for a minimum investment of £15,000.

This product is available now in Recent Additions (UK).