The Loan Syndications and Trading Association is getting ready to publish an exposure draft of its new Master Confidentiality Agreement after six months of work. "The LSTA had a form of the master confidential agreement published in 1999 and it was on our agenda for this year to set up a working group to revise it and to update it to reflect market practice," said Bridget Marsh, assistant general counsel at the LSTA.
The master confidentiality agreement is signed by the two parties agreeing that if they do receive confidential information they will not disclose it. The guideline is subject to certain exceptions, such as if that person needs to disclose the information for legal reasons. The new version is updated to allow for electronic signature for those shops that use electronic workspaces.