AMG Steering Committee to Meet in Washington, D.C.

On April 30, 2008, the Steering Committee of SIFMA's Asset Management Group will meet in Washington, D.C., to discuss the Group's market practices and policy agenda. Specifically, the AMG will discuss:

1) possible changes in the credit rating agencies' model;
2) new residential housing finance methodologies, including using Federal mortgage insurance programs to avoid foreclosures;
3) the draft Valuation Guidelines White Paper that would enable asset managers to refer to industry standards when dealing with customers or regulators; and
4) long term regulatory reform ideas, such as merging the CFTC and the SEC.

If you are a buy side firm and are interested in any of the above-mentioned items, the Asset Management Group of SIFMA would like to hear from you. Please contact Joseph W. Sack, Managing Dirator at SIFMA at 212.313.1165 or at jsack@sifma.org.

AMG Meets with SEC on Valuation Guidelines

Last Week, members and staff of the SIFMA's Asset Management Group met with staff of the SEC's Division of Investment Management to discuss various regulatory initiatives of the Commission that affect asset management firms. In addition, the group disussed AMG's market practices initiative to develop Valuation Guidelines. The AMG (pricipally through staff and outside counsel) has conducted a dozen in person member interviews since mid-December in order to help determine consensus for voluntary industry-sponsored valuation guidelines that the Association intends to issue in the form of a White Paper. The White Paper is intended to provide industry-wide guidance for asset management firms regarding the valuation of securities and other financial instruments in the funds and accounts they manage. This initiative is driven, in part, by the recent turmoil in the marketplace from the subprime situation and will focus principally on industry-wide guidelines to assist buy side firms with their own individual policy and procedures.

The AMG will host a Lunch & Learn educational event on April 17th that focuses on the principles being put forth in the White Paper. For additional information on this event, please contact Douglas Taggart, Manager at SIFMA at 212.313.1173 or at dtaggart@sifma.org.

Click here to register to Register for the April 17th Event on Valuation

Wall Street to Washington Conference: April 30 - May 1

Members of the Asset Management Group are cordially invited to participate in SIFMA's first federal legislative and regulatory conference on Capitol Hill, which will follow the AMG Steering Committee Meeting on April 30, 2008. This conference will offer participants an in-depth, interactive involvement in the policy-making process as well as direct access to key legislators and regulators. Furthermore, attendees will gain exceptional opportunities to participate in discussions with the nation's top leaders on critical policy issues, such as conditions in the credit markets, federal tax policy, and savings and retirement initiatives. Through speeches, panel discussions, personal meetings with legislators and regulators, a debate between the Presidential candidates' economic teams, and an intimate dinner with members of Congress, this conference will be a unique and rewarding experience for attendees.

Click here to view the program agenda and event details and find out who should attend "Wall Street to Washington." Registration is also available through this link.

Important Publications:
SIFMA SmartBrief (past five issues)
SIFMA Washington Weekly