This session introduced LSTA’s Statement of Principles for the Communication and Use of Confidential Information by Loan Market Participants and the different categories of information in the loan market, the concept of Material Non Public Information (MNPI), and how the loan market trades on this information.  It also provided an overview of recent market developments regarding the issue of MNPI as it relates to the trading of CLO tranches. Lastly, panelists addressed recent regulatory focus on the implementation of robust MNPI controls by market participants transacting in aggregated or securitized instruments and walk through new best practices guidance in the LSTA’s Statement of Principles. Panelists included: Ropes & Gray LLP Partners Eva Ciko Carman and Brian R. Blaism; Partner from Schulte Roth & Zabel LLP Craig Stein and Craig Warkol; and Elizabeth Yazgi, Assistant General Counsel, LSTA.