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Steve Kieselstein Quoted in Bloomberg Business

Kieselstein Law Firm managing member Steve Kieselstein was quoted in Bloomberg Business’s article “Leveraged Loan Market Sows Discord With Push to Speed Trades”1. The article discusses a recent LSTA proposal to have investors forfeit delayed compensation in the form of interest earned if they cannot satisfy certain criteria proving that they are ready to close the trade within existing seven business day guidelines. Mr. Kieselstein told the publication that the proposal represented a “sea change in the way the LSTA approaches closing delays [in] moving away from a compensatory system towards a punitive one.” He noted that “[t]he real question is how will market participants avoid being stripped of compensation if they have been blamed for delays on a trade unfairly.”

  1. “Leveraged Loan Market Sows Discord With Push to Speed Trades”, Bloomberg Business, (last visited October 22, 2015).