15. What is the meaning of 'overly complex strategies where the capital protection is conditional'?

A distinction is made between products with capital protection and products without capital protection. Mechanisms intended to reduce or mitigate the risk on the capital cannot be regarded as a form of capital protection.

A product can only be marketed as a product 'with (partial) capital protection' if the protection covers the entire or at least 90% of the capital and insofar as the protection is unconditional, regardless of stricter provisions that may apply (UCIs).