Reducing Settlement Delays In Loan Trading Market

Law360, New York (September 14, 2016, 10:22 AM EDT) -- Anthony R.G. Nolan

Vanessa G. Spiro

Alexis K. Paddock In a long-awaited development, the delayed-compensation standard for late settlement of par/near par loans changed in important ways on Sept. 1, 2016. On that date, the no-fault system for delayed compensation was supplanted by a requirements-based standard under which parties to loan assignments must meet certain basic requirements in order to receive delayed compensation for late-settling trades. The implementation of this new regime is intended to reduce settlement delays in the loan trading market by giving market...
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