Forum codifies Chinese Walls in credit trading
The Joint Market Practices Forum - an ad hoc group of four market trade associations – has produced a set of principles and recommendations tackling the contentious issue of Chinese Walls between credit trading and lending functions.
The point of focus is so-called ‘material non-public information’ - information that is not available to the public and that can be considered important in making investment decisions. Some credit default protection sellers have long been suspicious that some firms’ derivatives desks may potentially have
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