This week’s SRP coverage highlights Lincoln Financial’s new vol control index-linked IUL, Italy’s all-time-high certificate volumes and the launch of the SRP AMC Report 2026, among other developments.
SRP published its inaugural SRP AMC Report 2026, an actively managed certificates (AMCs) report that provides a focused examination of how these AMCs are reshaping the structured products landscape via various interviews. Among, Leonteq positions AMCs as the centre of its growth strategy aimed at leveraging digital infrastructure, systematic strategies and cross-asset integration, while Société Générale Private Banking highlights how AMCs are transforming portfolio construction, providing operational efficiency, bespoke strategy flexibility and a bridge between funds, ETFs and structured products, and more.
James and Tina Baldocchi, individually and jointly, and James Baldocchi are the first set of claimants who filed the case in March 2024
An arbitration panel at the US Financial Industry Regulatory Authority (Finra) has held Fidelity Brokerage Service LLC liable for damages linked to structured notes sales, with two sets of retail investors to receive a total of US$1.3m in compensation for their losses.
James and Tina Baldocchi, individually and jointly, and James Baldocchi are the first set of claimants who filed the case in March 2024.
Negligence, professional negligence, gross negligence, violations of law, negligent supervision, breach of contract, breach of fiduciary duty, and breach of securities industry rules and regulations are among the causes of action the claimants asserted related to their investments in structured products, according to the Finra award record.
Lincoln Financial has launched Lincoln WealthProtector Indexed Universal Life (IUL), which currently offers 0% minimum floor, translating to full capital protection. The insurance carrier opted for a suite of volatility-controlled indices by S&P DJI and Fidelity.
As companies wrapped up their earnings season, we reviewed the earnings performance at the three major insurance carriers with a focus on their indexed annuity businesses in the US.
Looking at the European market, BNP Paribas issued EUR Phoenix Snowball Notes in France. The 10-year medium-term note (MTN) is linked to the Euronext Europe Fallen Angels Fixed Basket Decrement 50 Points Index, which focuses on the selection of 10 European companies deemed to have fallen from grace, aiming to identify potential turnaround opportunities or value, based on specific, fixed company selections, rather than a traditional free float market index.
In Italy, turnover for publicly offered investment certificates sold on the primary market reached €7.3 billion (US$8.7 billion) in the fourth quarter of 2025, down 8.8% compared to the previous quarter but increased 39% year-on-year, according to the latest figures released by the Italian association for certificates and investment products, or Acepi. At the close of Q4 2025, the total volumes placed by Acepi’s issuer members in 2025 reached €31.8 billion – an all-time high.
Germany has revised its financial market access rules through the Financial Centre Promotion Act, removing restrictions for non-EU market makers and aiming to enhance liquidity and competition in European derivatives trading.
FVC’s Tim Mortimer noted in an analysis that autocalls offer high headline yields and regular income, but their multi-maturity structure, volatility skew and early expiration probabilities make pricing and risk management complex for investors and issuers alike.
Among people moves, Felix Lin, co-founder, president and chief financial officer at Arta Finance, has been appointed Group CEO and will replace co-founder Caesar Sengupta. Amanda Ong will continue in her role as Singapore CEO and global head of partnerships.
Bank of Singapore has named Bernard Heng as head of customised solutions within its investment solutions group, effective 2 March. He will oversee the development, management and execution of complex product structures and bespoke investment solutions, with a particular focus on ultra-high-net-worth clients.
UBS Global Wealth Management is rehiring Andrew Bird as head of global wealth management, Australia, effective 27 April.
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