How independent are bond trustees?

bond trustees

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An Association of British Insurers (ABI) proposal to improve UK corporate bond market standards has provoked a debate on the independence and role of bond trustees. The debate reflects growing concern at the strength of investment bank-affiliated players in the market and, in extreme circumstances, questions where their allegiance lies.

The role of trustee under UK law is substantial, with appointees – there is usually only one per deal – able to exercise a measure of discretion unlike in the US.

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