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Enron Mail |
Now that we have the "green light", can we please start the process of
setting up the UK entity that will act as agent for this activity. According to Jeff, the bond trading activity will not start right away and, in any case, the volume for this activity will be fairly light. Therefore, I think it would be best if we just set up one agent now and decide on the need for another separate entity at a later date. Thanks and regards, John Paul Simons 13/09/2000 15:16 To: Gary Hickerson/HOU/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, John Greene/LON/ECT@ECT, Sheila Glover/HOU/ECT@ECT, Janine Juggins/LON/ECT@ECT, Mahesh Lakhani/LON/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Andrew Cornfield/LON/ECT@ECT cc: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT Subject: Bond & Equity Trading I have just received the letter SFA promised us. SFA have accepted our argument that our proprietary bond and equity trading can be carried on in London through an unregulated UK entity. The letter also states that SFA will not be applying their consolidated capital supervision rules to the unregulated entity, which they have the discretion to do. From a regulatory perspective this means we can move ahead at full speed to set up an appropriate Chinese Wall and then begin trading. Best regards Paul
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