The Joint Associations Committee (JAC) on structured products is preparing its response to Esma's recent advice on the review of the Prospectus Directive, in which the structured products industry was warned of the costs of adding to existing base prospectuses for the issuance of structured products. JAC's chairman Tim Hailes told SRP that the associations is waiting for members' input to draft its response: "The JAC feels that is appropriate to respond to the Esma technical advice in terms of