In 2019 SPIS took a historical decision by agreeing on a joint standard for naming of structured products in Sweden. The naming covers both instrument type and product and is mandatory for all SPIS members to present in marketing materials. This decision was taken to further increase comparability and make it easier for investors to get a sense and understanding of the structured product universe.
The industry provided input to the review of the recently imposed PRIIPs regulation and initiated preparations for the review of MiFID II. Both PRIIPs and MiFID came into force in 2018 through extensive regulations. These regulations are another step, in addition to the existing SPIS self-regulation, to enhance investor protection and aims to bring with them a transparent and level playing field. But the full benefits are yet to be seen and SPIS was active in pointing out what needs to be changed in order to achieve this.
SPIS continued to keep a close dialogue with the FSA exchanging views on the situation on the market for structured products and the regulations affecting it. And although we have come a long way in our work to increase transparency, comparability and understanding of structured products in Sweden, work remains to be done in order to further strengthen the industry and to create prerequisites for structured products to be acknowledged and established as a natural part of the investment universe. Something they have the potential to be.
Link: SPIS Annual Report 2019