Re: Credit

Any idea what Bryan plans to gain this way? It's not clear to me that a hard
wall solves our problems with RE approvals but that's because I don't know.
Maybe Ken can shed some light on this.

Paul Simons
03/07/2000 08:01 AM
To: Mark E Haedicke/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc:
Subject: Credit

FYI, there apppears to have been a sea change in Bryan's attitude to having a
hard Chinese wall for his trans-atlantic credit trading group. In short, he
wants to be behind one and apparently John Sherriff is comfortable with
this. I have therefore asked Ken Raisler to advise us on how to construct a
Chinese Wall from a practicle, US perspective, with the intention of having
Sanjev at Slaughters modify the "instruction kit", as necessary, to work
under English law. Given Ken's involvement on equity trading, he appears to
be the right place to start. There remains the possibility that when the
traders see the procedures they will change their minds and wish to stick
with the existing procedures you have seen.

This will not impact launch of credit trading online which, as advised, is
still set for tomorrow.

Please let me have any thoughts on this.

Regards

Paul