The Loan Syndications and Trading Association will be holding a meeting of the material non-public information working group next Thursday, March 8. It will be the first time both the buyside and the sellside will be working together; previously they had their own separate working groups.
Elliot Ganz, general counsel at the LSTA, said the group will be looking at the code of conduct and the confidential information supplement, which date back to before 2000. It will also be discussing how MNPI applies to loan-only credit default swaps and total return swaps and electronic platforms and the dissemination of information from them. At the end of the meeting he anticipates opening the conversation to members to see what areas they think need to be addressed.
The LSTA was informing the 94 current members of the working groups late Wednesday night and Ganz anticipates even more people will want to become involved after they find out the organization is revisiting the topic. It will be holding the first meeting as a conference call. Lisa Opoku from Goldman Sachs, Rob Milam from JPMorgan and Debbie Montick from Nomura are acting as co-chairs.
