Tom Stabile of FundFire interviewed GAP Managing Partner Roseanne Harford about the SEC’s decision to refrain from filing an amicus brief in the Second Circuit appeal of Kirschner v. JP Morgan Chase Bank, in which a federal bankruptcy trustee is arguing that some syndicated term loans should be treated as securities. Roseanne suggested that the decision likely reflected a prevailing view among the Commissioners that the question of whether and how to regulate the private loan market requires greater study and that any such change should be delivered deliberately with an opportunity for the market to adjust in an orderly way. Link for subscribers.