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===Equity swaps and ~=== | ===Equity swaps and ~=== | ||
A perennial thorn in the side of those who negotiate ISDA equity derivative master confirmations. The disclaimers and representations each side requires of the other — that it has no UPSI when trading equity swaps — ought to be about as uncontroversial as can be. | A perennial thorn in the side of those who negotiate ISDA equity derivative master confirmations. The disclaimers and representations each side requires of the other — that it has no UPSI when trading equity swaps — ought to be about as uncontroversial as can be. It is jailable behaviour. Who goes near that? | ||
So, when you find your client — especially if it is a spin-off of, or alumni from, SAC Capital, Galleon, Front Point or the Tiger Asia Fund — wanting to parse the minutiae of just how much knowledge of MNPI they profess the the best of their belief not to have when they trade — be very very, very sceptical. It happens a ''lot '' more than it should, which is ''never''. | |||
{{Sa}} | {{Sa}} | ||
[[Confidentiality agreement]] | [[Confidentiality agreement]] | ||
*[[Deltaview Force: an Opco Boone adventure]] | *[[Deltaview Force: an Opco Boone adventure]] |