Structured Products and Other

Reflecting the hybrid nature of structured products, ISDA often works jointly with securities-focused trade associations on issues that transcend wholesale and retail markets. The forum for this work is the Joint Associations Committee on Retail Structured Products (JAC), chaired by Tim Hailes of JP Morgan. 

Documents related to Islamic Finance derivatives agreements can be found here:
http://www.isda.org/c_and_a/islamfwg.html


DateTitle / Document / DescriptionDownload
July 31, 2014
JAC response to the ESMA CP on MiFID II/MiFIR
On July 31, the Joint Associations Committee on Retail Structured Products (JAC) responded to the ESMA consultation paper on MiFID II/MiFIR. This response addresses questions from the consultation that are specific to retail structured products; it was submitted alongside the ISDA response to the ESMA CP & DP addressing other questions from the ESMA consultation.
JAC MiFIR response.pdf
July 21, 2014
Translation of response to the CONSOB consultation on the distribution of complex products to retail investors
On July 21, the ACEPI, the EUSIPA, the JAC (representing ISDA, ICMA, AFME & the BBA) together with White & Case Europe LLP responded to the Commissione Nazionale per le Società e la Borsa (CONSOB) consultation on the distribution of complex products to retail investors. This response has now been translated in to English.
Answers to CONSOB consultation re  structured products final 21 7 14_Fin   .pdf
July 14, 2014
English translation of supplementary observations relating to the consultation document ‘Information reporting as contemplated in Article 129 of the TUB relating to the offer of financial instruments in Italy’
On July 14, the Joint Associations Committee on Retail Structured Products (JAC) along with the International Capital Market Association (ICMA) and ISDA (with the support of the Associazione Italiana Intermediari Mobiliari (ASSOSIM)) wrote to The Bank of Italy with supplementary observations relating to the consultation document "Information reporting as contemplated in Article 129 of the TUB relating to the offer of financial instruments in Italy” (dated October 2013). The response was filed to the Bank of Italy in Italian only. The original response to the same consultation is dated December 13, 2013 and is available on the JAC page.
RM-#4968570-v4-Position_Paper_129_final_July_2014.pdf
January 23, 2014
JAC position paper on PRIPS regulation - January 2014
JAC PRIPS trilogue paper.pdf
December 13, 2013
Letter to Bank of Italy regarding comments on the Consultation Document ‘Information Reporting as contemplated in Article 129 of the TUB (Consolidated Law on Banking) relating to the offer of financial instruments in Italy’
On December 13, ISDA, JAC, ICMA & ASSOSIM lent their support to a letter from Allen & Overy to the Bank of Italy regarding comments on the Consultation Document ‘Information Reporting as contemplated in Article 129 of the TUB (Consolidated Law on Banking) relating to the offer of financial instruments in Italy’, dated October 2013. The consultation proposals would impose rigorous information reporting requirements on the issue and offer of financial instruments in Italy, and could therefore serve to discourage non-resident entities from issuing and offering financial instruments in Italy.
Position Paper A&O - ENG.pdf
October 18, 2013
JAC Response to the Joint Forum Consultative Document: Point of Sale disclosure in the insurance, banking and securities sector.
On October 18, the Joint Associations Committee on Retail Structured Products (JAC) responded to the Joint Forum Consultative Document: Point of Sale disclosure in the insurance, banking and securities sector. The consultation considers whether the current different regulatory approaches to Point of Sale disclosure need to be further aligned, so that consumers across all three financial sectors receive adequate product disclosure at the point of sale.
JAC Reponse to the Joint Forum Consultative document - October 2013.pdf
October 10, 2013
JAC response to the CBI Consultation CP68 on types of alternative investment funds under AIFMD
On October 10, the Joint Associations Committee on Retail Structured Products responded to the Central Bank of Ireland's Consultation (CP68) on types of alternative investment funds under AIFMD and unit trust schemes under the Unit Trusts Act 1990 (including EUTs, REITs etc.)
JAC Response to EUT Consultation CP68.pdf
October 9, 2013
JAC response to HM Treasury & Department for Business Innovation and Skills on Banking reform: draft secondary legislation
On October 9, the JAC responded to the consultation issued by HM Treasury & Department for Business Innovation and Skills on Banking reform: draft secondary legislation (issued in July) in relation to structured issues. The response strongly considers that ring-fenced banks must be able to distribute structured products, and, in addition, issue structured products provided that issuance is consistent with the limitations on simple derivatives.
091013JAC response to HMT  BIS Banking Reform consultation.pdf
June 13, 2013
The Joint Associations Committee (JAC) response to the IOSCO consultation on retail structured products
ISDA, UKSPA, AFME, BBA, ICMA & IIF joint response to the IOSCO consultation on retail structured products.
20130613_IOSCO_consultation_Retail_Structured_Product_JAC_response.pdf
February 6, 2013
JAC Response to ESMA consultation on key concepts of AIFMD
Joint Associations Response
JAC_LETTER_ESMA_Key_concepts_AIFMD.pdf