AMD Executive Committee Meeting - March 2, 2005
On January 25th, the AMD Executive Committee met to discuss the agenda for its meeting on March 2, 2006 in Boston, MA. It was agreed that the Committee would address the items listed below, among others at its Boston Meeting. If your asset management firm wants to particpate in this meeting, then contact Joseph Sack at 646.637.9265 to discuss joining the AMD.
Swaps Initiatives
The Market Practices and Standards Subcommittee will report on their recent accomplishments in their work with the Major Dealers. Specifically, the Subcommittee will describe how it is working with the Major Dealers on achieving automation for the CDS market and establishing timeframes for executing swap trades.
Best Execution
The framework for this initiative has recently been developed with the assistance of Lee Pickard, outside counsel to the AMD. The AMD intends to develop industry-sponsored recommended guidelines (applicable to asset management firms), but would also seek to have regulators on board with these proposals as well.
SAS 70
The question is whether sufficient momentum has developed to pursue proposed best practices. Staff is assessing this matter with input from the auditing profession as well as AMD members.
Industry-Wide Preparations for Possible Avian Flu Pandemic
The Bond Market Association is creating an industry forum that will facilitate discussion by major sell side and buy side firms. The AMD will evaluate how it can best assist in industry preparations.
MBS and Minimum Service Fees
The Market Practices and Standards Subcommittee will address the possible implications of reducing the minimum servicing fees for agency pass through securities.
Cross Trading Initiative
With the help of The Bond Market Association's Washington, D.C. Office, the AMD Advocacy Subcommittee is seeking the opportunity to have provisions included in this legislation that would permit active cross trading between pension fund accounts.
Presentation on Bond Trading to SEC
The Advocacy Subcommittee will begin to prepare a presentation to the Investment Management Division of the Securities and Exchange Commission. The purpose of this presentation is to offer further education on the nuances of the fixed income markets and bond trading to regulators.
Formation Technology Subcommittee
The Executive Committee of AMD will consider the need for a Technology Subcommittee. This Subcommittee would provide feedback on industry technology initiatives from the buy side perspective.
TBMA Annual Meeting
This year marks the 30th anniversary of The Bond Market Association and the inaugural year of The Asset Managers Division. At the 2006 Annual Meeting, the AMD will play a prominent role. At the meeting, PIMCO Managing Director Bill Gross will address the membership as a keynote speaker.
New Members of the Asset Managers Division
The Outreach Subcommittee will work with staff on identifying asset management firms that would benefit from the activities of the AMD and would be interested in Division membership.
Schedule of EventsFebruary 1, 2006 AMD Market Practices Subcommittee Meeting with Major Dealers February 7-8 2006 Legal and Compliance Conference February 14, 2006 AMF's Business Insights On the Operations of Asset Management and Broker Dealer Firms February 15, 2006 AMF Quarterly Meeting March 2, 2006 AMD Executive Committee Meeting in Boston March 2, 2006 Proposed Regulatory Issues & Answers Forum in Boston March 14-15, 2006 Fixed Income e-Trading Conference (London) May 19, 2006 The Bond Market Association’s Annual Meeting |