SEG Supports Changes to Pension Protection Act
In a letter to the House Committee on Education and the Workforce, The Bond Market Association and the Senior Executives Group of AMF urged inclusion of changes to ERISA's transaction rules in the Pension Protection Act of 2005 (H.R. 2850). The SEG is seeking changes that will permit cross-trading between different investor accounts within a single asset management firm. On June 29, the House Education and the Workforce Committee began its consideration of HR 2830. During this congressional session, it was mentioned that there is bipartisan support for pursuing further changes to certain prohibited transactions rules to allow cross trading. Any changes would likely occur outside of the House Education and the Workforce Committee.
The staff of The Bond Market Association will continue to monitor developments on pension reforms. If you have any questions regarding this matter, please contact staff members Jill Hershey of The Bond Market Association's Washington D.C. office at 202.434.8400 or Joseph Sack of The Bond Market Association's New York office at 646.637.9200.
Click here to read the SEG Pension Protection Act Letter
Click here to read a summary of H.R. 2830
Click here to read a Press Release
SEG Files SEC Comment Letter on NASD Mark-up Policy
The Senior Executives Group of The Asset Managers Forum has filed a comment letter with the U.S. Securities and Exchange Commission on the NASD proposed Mark-up policy. In its letter, the Group voiced serious concerns with the NASD’s interpretation of the proposed Mark-up policy. Specifically, the SEG was concerned that the policy may have unintended adverse effects on market liquidity that is provided by broker-dealers. This comment letter was signed by John R. Gidman, Executive Vice President at Loomis Sayles and David L. Murphy, Senior Vice President and Head of Fixed Income at Fidelity Investments. Mr. Gidman serves as Chairman of the Senior Executives Group and Mr. Murphy serves as Chair of Joint Buyside/Sellside Regulatory Developments of SEG.
Click here to read the SEG Comment Letter to the SEC on the NASD Mark-up Policy
AMF Swaps Conference
New York City, NY & Newport Beach, CA on July 26
Swaps trade volumes are setting new records each year and market continues to attract new participants each year. The Asset Managers Forum is helping the swaps market to enter into an era of modernizaton through automatin and standardization. This Conference is designed to put asset managers, dealers, custodians and other market participants in the driver's seat in order to steer the industry toward enhanced operational business practices relating to swaps.
The Asset Managers Forum will soon release the AMF Swaps Best Practices White Paper. Completed over the course of twelve months, the AMF coordinated the efforts of over 150 industry volunteers in more than 200 meetings. Now it is time for the rubber to meet the road as the industry develops plans to implemet these recommended best practices.
Click here to view the Swaps Conference agenda, to learn more details & to register
AMF/SEG Golf Outing
Ardsley Country Club on July 25
We cordially invite you and any of your guests to join the AMF/SEG members, individually or as a foursome, at our AMF/SEG Golf Outing to be held at The Ardsley Country Club in Ardsley-on-Hudson, NY.
The outstanding growth of the AMF/SEG over the past several years has been largely attributed to the camaraderie that has developed not only between AMF/SEG members, but also among asset managers and broker-dealers, custodians, vendors and other members of the Wall Street community. This event is a continuation of that camaraderie, and a chance for you to network with colleagues at one of New York's most prestigious golf clubs.
Sponsorship Opportunities - Promote your company with a sponsorship at the Golf Outing. Opportunities range from sponsoring the hole-in-one contest, meal sponsorship and distributing logo items.Please contact Diane Trupia at 646.637.9270 if you have any questions regarding sponsorship opportunities. We also welcome you to share this invitation with others in your organization who may be interested in joining us.
Click here and register today or contact Susan Weiss at 646.637.9293