SEC Chairman Donaldson Addresses The Bond Market Association

At The Bond Market Association's Annual Meeting on April 20, 2005, SEC Chairman William Donaldson spoke on several regulatory initiatives that relate to the bond markets, such as trade reporting transparency, the NASD mark-up proposal and a regulatory initiative that focuses on structured finance activities. In addition, Chairman Donaldson addressed the importance of due-diligence standards for underwriters and was encouraged by the Association's efforts to bring industry members together to discuss improving the underwriting due-diligence process.

In addressing the issue of transparency, Chairman Donaldson stated that transparency for trade reporting has been a success. He continued to explain that transparency has not had an adverse affect on market liquidity and that further efforts to enhance transaction reporting transparency should be made.

In his concluding remarks, Chairman Donaldson stated that he believes that industry reform will further build investor confidence and a continued willingness to participate in the bond markets. The Senior Executives Group will continue to work with The Bond Market Association on industry advocacy initiatives as they relate to issues on both the buyside and sellside.

Click here to read SEC Chairman William Donaldson's Remarks

Formation of Buyside Business Continuity Group: April 26 Meeting

With the securities industry's increasing focus on business continuity planning ("BCP"), it is critical that a wide cross-section of market participants are engage in planning efforts. Accordingly, the Asset Managers Forum will form a group to work with other industry professionals on BCP. The AMF invites asset managers to volunteer to be a part of this important initiative to coordinate buyside and sellside continuity planning activities.

The sellside has been engaged in BCP through The Bond Market Association's Business Continuity Management Council. The Association's BCMC will meet on Tuesday, April 26, 2005; asset managers who are interested in participating in BCP efforts are invited to attend this meeting. If you are interested in participating in this meeting, please contact Douglas Taggart at 646.637.9273 by Monday, April 25 to receive the meeting and call-in information.

NOTE: This Weekly Report on Policy Developments Affecting Asset Managers is a service of the Technology, Operations and Asset Manager Relations Department of The Bond Market Association. We encourage your input as this communication is designed to promote dialogue among members of the Senior Executives Group of The Asset Managers Forum and The Bond Market Association. Please feel free to contact Joseph Sack, Executive Director of the Senior Executives Group of The Asset Managers Forum or Douglas Taggart or Elisa Nuottajarvi of the staff of The Bond Market Association.