This week we cover August MTM, July Trading, LIBOR Consulation and a Big Day at the SEC
This week we cover Long-Term Loan Terms; Fiduciary Standards & You; LSTA Oral History
The Securities and Exchange Commission earlier this year issued a two-part release that could impact investment managers – including loan managers. The second part of the release requests comments regarding proposed enhanced investment adviser regulation. The LSTA this week submitted a comment letter on the two proposals, broadly supporting the recommendations of the Investment Advisers […]
This week we cover CLO Future; Fiduciary Returns(?); SLOO Burn; FinCEN & Loans; and Credit Redux
Last month, the Securities and Exchange Commission (“SEC”) issued a two-part release (the “Release”) that, as described below, could impact investment managers – including loan managers.. The first part proposes an interpretation (the “Proposed Interpretation”) regarding the standard of conduct the SEC expects from investment advisers. The Proposed Interpretation purports to reflect the SEC’s current views of the standards of behavior that apply to investment advisers. However, some elements, according to Cleary Gottlieb, appear to “reflect a higher standard of conduct than is currently required under federal law.”
LSTA submitted a comment letter to the SEC on “Conflicts of Interests in Securitizations.
In response to the SEC’s Re-Proposal of Shelf Eligibility Requirements for Asset-Backed Securities, the LSTA submitted a comment letter recommending that any SEC-mandated disclosure requirements for CLOs reflect the unique characteristics of syndicated loans and CLOs.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.