Twelve associations issue joint statement on misuse of public information

A group of twelve industry associations have issued a joint statement reaffirming their commitment, on behalf of the members and financial markets they represent, to promote fair and competitive markets in which inappropriate use of material non-public information is not tolerated.

They also pledged to undertake various initiatives to inform, educate and provide additional guidance to their members, non-members, and other interested parties alike.The associations stress that their members have long had appropriate policies and procedures in place for handling material non-public information and for fully complying with securities laws and regulations. But since even the perception of misuse has the potential to erode confidence in the integrity, as well as the liquidity and efficiency of the securities and derivatives markets on which their members rely, the associations believe it is important to maintain a focus on this issue in the midst of the complex and ever changing financial markets.The 12 associations are:

American Securities Forum
Asia Pacific Loan Market Association
Asian Securities Industry and Financial Markets Association
European High Yield Association
European Securitisation Forum
International Association of Credit Portfolio Managers, Inc.
International Swaps and Derivatives Association
Loan Market Association
The Loan Syndications and Trading Association
London Investment Banking Association
Managed Funds Association
Securities Industry and Financial Markets Association

Click here to view a copy of the statement.