On Friday, the LSTA filed two motions with the U.S. Court of Appeals for the DC Circuit in its litigation against the SEC and the Federal Reserve (the “agencies”) on the issue of risk retention for CLO managers. The first motion, which was joined by the government, requested the court’s approval of a proposed briefing schedule. The second, which the government did not join but did not oppose, asks the court to expedite oral arguments after the final briefs are filed.
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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.