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August 15, 2017 TMPG Seeks Comment on Proposed Best Practice Recommendations on Information Handling The Treasury Market Practices Group (TMPG) is proposing updates to its Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets to add recommendations related to the appropriate handling and use of confidential information. The TMPG has also developed examples that provide some illustrative situations when the proposed best practices could apply. The TMPG welcomes feedback on its Proposed Best Practice Recommendations on Information Handling with Illustrative Examples. In recent years, there have been a number of serious cases of misuse of confidential information that undermined the integrity of financial markets. To support market functioning and integrity, the TMPG thought it prudent to develop practice guidance for its covered markets. In brief, the proposed best practice recommendations call for market participants to communicate in a clear and truthful manner, not share or use confidential information with the intent of adversely affecting the interests of a counterparty or the integrity of the market, limit sharing and use of confidential information, adopt policies and procedures that identify and address limitations on the sharing and use of confidential information, make information handling practices available to counterparties, and establish internal controls designed to ensure compliance with established polices. “For the integrity and effective functioning of TMPG-covered markets it is critical that market participants understand the importance of appropriate sharing and use of confidential information. Although these proposed updates to the Best Practices reflect the perspectives of a broad range of market participants, I encourage readers to carefully review this guidance and provide their feedback to the TMPG,” said Tom Wipf, Chair of the TMPG. Members of the public may submit comments by October 15, 2017, to tmpg@ny.frb.org. The TMPG expects to release the updated best practice recommendations in the weeks following the conclusion of this comment period. # About the Treasury Market Practices Group (TMPG): The Treasury Market Practices Group (TMPG) is a group of market professionals committed to supporting the integrity and efficiency of the Treasury, agency debt and agency mortgage-backed securities (MBS) markets. The TMPG is composed of senior business managers and legal and compliance professionals from a variety of institutions – including securities dealers, banks, buy-side firms, market utilities and others – and is sponsored by the Federal Reserve Bank of New York. More information is available at: www.newyorkfed.org/tmpg Contact for Mr. Wipf (TMPG Chair): Ms. Andrea Aguiar Morgan Stanley, Bank Resource Management (212) 761-4914 andrea.aguiar@morganstanley.com