Audio Replay of Industry Call-in on Credit Rating Agency Reform

On Wednesday, May 2, 2007, approximately 100 industry members dialed into a call-in on credit rating agency reform. The May 2nd call-in discussed some of the issues raised and the implications of the SEC’s proposed rule to implement the provisions of the Credit Rating Agency Reform Act. Panelists on the call told listeners to expect:

- New levels of transparency from credit rating agencies under the new regulation.
- Enhanced credit rating products due to new demands by market particpants.
- Potential opportunity for increased access to information behind the credit rating process.

Panelists also addressed how the proposed rule might affect “notching” practices relating to structured products, such as CDOs, and explained that the proposed rule does not bind credit rating agencies to any particular model.

Click here to listen to the AMG Call-in on Credit Rating Agency Reform

This call-in was sponsored by the AMG Emerging Policy Issues Subcommittee and was moderated by Dan Stachel of State Street Global Advisors and co-moderated by Joseph Sack of SIFMA. Panelists included Richard Cantor and Jeanne Dering of Moody’s Investor Services and Joanne Rose of Standard & Poor’s. Rating agencies including Fitch, Moody's and S&P have commented on the SEC’s proposed rules in comment letters published on the SEC website.

IA/AMG Roundtable in Boston

Yesterday and today, SIFMA’s Investment Adviser Committee and Asset Management Group held a Roundtable in Boston to discuss common issues. More than 20 individuals in the investment management business discussed internal coordination on the development of advisory products and services, recent SEC proposed rules relating to hedge funds, business and regulatory considerations for buy side fixed-income best execution, and other issues such as client commission arrangements, fee-based accounts, record keeping and ethics.

The Roundtable was moderated by AMG Steering Commitee member Michael Cloherty, Deputy COO of GM Asset Management and Bruce Maisel, Managing Counsel of Thrivent Investment Management. SIFMA staff members Joseph Sack, Michael Udoff and Douglas Taggart organized the event.

Outsourcing Event

Outsourcing in the financial services sector is experiencing unprecedented growth, and asset managers, among others, are frequently faced with a variety of outsourcing options. If you have outsourcing responsibilities or oversight, please consider attending the Financial Services Outsourcing Annual Summit 2007, presented by FSO Knowledge Xchange, on June 7, 2007, at American Conference Centers, New York, NY. This one-day summit is focused specifically on outsourcing in the financial services industry [banking, capital markets and insurance]. Senior delegates from the financial industry are participating at this event. You are invited to attend a collaborative and interactive discussion with your peers from the industry on outsourcing. The topics to be covered in this outsourcing summit will include: executive viewpoints, trends & analysis, tools & techniques, legal perspectives and case studies. Complimentary registration is available for senior delegates from the financial industry.

Click here for more info on the event.

Click here for complimentary registration.