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#To bury the intellectual technology — for which read, conceal the abject lack of it — underpinning any financial product so that no two bit attorney can therefore milk the overflowing trough | #To bury the intellectual technology — for which read, conceal the abject lack of it — underpinning any financial product so that no two bit attorney can therefore milk the overflowing trough | ||
#To cover the issuer’s, arranger’s and, more importantly, their counsel’s posteriors against the risk of having neglected to advise of the inherent flaws, inefficiencies and perfidies of said financial product | #To cover the issuer’s, arranger’s and, more importantly, their counsel’s posteriors against the risk of having neglected to advise of the inherent flaws, inefficiencies and perfidies of said financial product | ||
#generally to baffle [[and/ | #generally to baffle [[and/or]] bore any investor [[and/or]] regulator sufficiently close to exasperation to stop it asking questions. | ||
The KIID is a standardised two-page document prescribed by European regulation with a format so investors can compare products easily. As such it is | The [[KIID]] is a standardised two-page document prescribed by European regulation with a format so investors can compare products easily. As such it is a kind of kryptonite to a [[Mediocre lawyer|securities lawyer]], who will quail before one, and may crumble into desiccated powder, wailing “IT CANNOT BE DONE I TELL YOU IT IS AN ABOMINATION”. | ||
Also, a form of Heat Ray in the underappreciated 1950s sci fi shocker ''[[The Day of the MiFID]]''. | Also, a form of Heat Ray in the underappreciated 1950s sci fi shocker ''[[The Day of the MiFID]]''. | ||