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Thanks.

Vince

Chris Strickland on 02/01/2000 10:02:41 AM
Please respond to chris@lacimagroup.com
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Weather/fundies update

Dear Vince,
?
I am quite happy with your response to this weeks’ update and am sending it
off to the Head of my group with a list of all the e-mails I sent him over
the past week.? In particular, I have been using the Feb 2nd update as my
key talking point with the treasury (in relation to funding by LIBOR) and
have had a good and fruitful meeting.? I have also discussed with Jeff
Brown and the firm are “treading carefully” on the derivative side, but
remain confident that if we deliver a new and innovative product that
traders want they will come from all directions.? I am sure we will hear
more from the Treasury next week regarding the current status of the
derivative side.
?
Regarding the weather/fundies issue, my contact in Goldman Sachs, Andrea
Yow (who incidentally works for me) thinks she has the answer.? I spoke to
them on Tuesday evening and their contacts at the Home Office think that it
is in fact a “simple” licensing issue.? Andrea (and I) think that the
solution lies in keeping the principle of licensing simple for new licensees
and not imposing overly restrictive conditions on existing licensees.?
Obviously the definition of a “new” licensee will be relevant to this and I
think we should probably spend a little time defining this.
?
I am going to get all my contacts at the Home Office on board and press for
an urgent meeting, so please keep me informed of any progress on your
side.
?
Yours,
?
Chris.
?A company