US watchdog puts oil-linked ETN advisors on notice

The guidance reaffirms that recommendations  made to clients must be based on a full understanding of the terms, features and risks of the products. ‘Communications with the public must be fair and accurate and firms are required to put reasonably designed supervisory procedures in place to ensure these obligations are met,’ stated the regulator. Moreover, companies that offer oil-linked ETPs must train registered representatives who sell such products so that they are aware o