Formation of Good Delivery Guidelines Advisory Board
The Association has formed a "Good Delivery Guidelines Advisory Board", which will periodically review TBA Good Delivery Guidelines and make recommendations for revisions to the MBS and Securitized Products Division Executive Committee. The Good Delivery Guidelines, which may be found in the Uniform Practices Manual, are a set of voluntary standards developed by the MBS and Securitized Products Division and its members which review how trades should be allocated and settled, in order to promote stability and liquidity in the TBA marketplace. The Advisory Board includes representatives from the GSEs, issuers, investors, and the broker-dealer community.
Asset managers with questions or comments on this matter should contact Chris Killian of the staff of The Bond Market Association at 646.637.9200.
Connecticut Campaign Finance Reform
On August 10, 2006, The Bond Market Association submitted a letter that requested a workable interpretation of a newly enacted statue (Public Act 05-5) from the Connecticut State Elections Enforcement Commission (“SEEC”) on a banning state contractor contributions (“State Contractor Ban”). In particular, the Ban would require state agencies to collect a list of their contractors and prospective contractors, their principals, the principals' spouses and dependent children to be publicly posted on a website. In its letter, The Bond Market Association has raised concerns over privacy and safety of spouses and children of corporate executives, however, the concerns and solutions set forth in the letter were dismissed by SEEC as they stated they were required by the legislature to have a strict interpretation of the law. Further options and remedies are being discussed by the Members of the Association.
Asset managers with questions or comments on this matter should contact Leslie Norwood of the staff of The Bond Market Association at 646.637.9200.
Upcoming Events for Asset Managers
Click here to view the August 18 AMD Weekly Report that describes upcoming events for asset managers. Asset managers with questions on these events should contact Diane Trupia of the staff at 646.637.9200.