contingent convertible instruments

In August 2014, the UK Financial Conduct Authority (FCA) used its consumer protection powers for the first time and introduced temporary product intervention rules (Temporary Rules) that restricted the distribution of contingent convertible instruments (CoCos) and similar products to retail investors for a period of 12 months commencing October 1, 2014. These distribution restrictions did not impact the distribution of CoCos and similar products to professional or institutional clients, or to exempt persons.
Continue Reading Final Rules Concerning the Restrictions Imposed On the Retail Distribution of CoCos and Other Regulatory Capital Instruments