The heightened supervision of complex products [see below blog] is designed to require:
preapproval of the products after the exercise of reasonable due diligence and
research, assessing the product for customer suitability.
review to monitor the product for their performance for purposes of a
continuing, ongoing suitability assessment.
of Registered Representatives to assure their knowledge of such products, as
well as their suitability parameters.
considerations of a customer’s financial sophistication and understanding of
the risks of these products.
due consideration as to whether or not a less complex or costly product could
achieve the same objectives for the customer.
NASD Notice to Members 12-03 is an all-encompassing
directive designed to protect the investing public from newly-introduced and
unconventional complex products that have been introduced to the financial
markets over the past several years.
We offer a free consultation to investors who feel they have
been improperly-sold complex products.
The Law Offices of
Timothy J. O’Connor is one of the only law firms practicing securities law in
the Tri-City Capital District of