Share This Conference

Resolution Frameworks and Ending Too-Big-To-Fail: With a focus on Asia

The ISDA Resolution Stay and BRRD Article 55 Protocols

This program is eligible for FTS claims


Tuesday, April 11, 2017
Marina Mandarin Singapore
Singapore

PROGRAM AGENDA

8:15 AM

 

Registration and Morning Coffee

 

 

 

9:00 AM

 

Introduction and Welcoming Remarks

 

 

 

9:05 AM

 

The Financial Crisis and the Development of Special Resolution Regimes

The experience of the recent financial crisis has led to the development of new legal regimes for addressing the failure of dealers and other global systemically important banks (GSIBs). This panel will highlight some of the concerns from the financial crisis that led to the development of Special Resolution Regimes (SRRs) and some of the common features of SRRs, including the bail-in strategy. In particular, this panel will focus on EU SRRs under the Bank Recovery and Resolution Directive (BRRD).

Jing Gu, Senior Counsel, ISDA

John Ho, Head, Legal, Financial Markets, Standard Chartered Bank

 

 

 

10:05 AM

 

Morning Break

 

 

 

10:20 AM

 

Stays on Early Termination Rights

A key element of SRRs is the ability to stay (and potentially override) early termination rights that may arise during resolution. These stays and overrides generally apply not just to counterparties of the entity in resolution, but also to counterparties of affiliates of the entity in resolution. This panel will focus on the stays and overrides under the EU, US and Hong Kong SRRs and the proposed legislative amendments in Singapore regarding the temporary stays and contrast them with the safe harbors for early termination rights under the US Bankruptcy Code.

Evan Lam, Partner, Allen & Gledhill LLP

Paul Landless, Partner, Clifford Chance

Sonia Lim, Managing Director & Associate General Counsel, JPMorgan Chase Bank, N.A.  

 

 

 

11:20 AM

 

Cross-Border Recognition of Resolution Powers

This panel will focus on the challenges that motivated both the ISDA 2016 Bail-in Article 55 BRRD Protocol and ISDA Resolution Stay Protocols – concerns that resolution actions taken under the laws of one jurisdiction will not be respected/ enforced by courts in other jurisdictions, particularly with respect to contracts governed by the laws of such other jurisdictions.

Paul Landless, Partner, Clifford Chance

Katie Melville, Director, Regulatory Affairs, Deutsche Bank AG

Other speaker to be announced

 

 

 

12:15 PM

 

Luncheon

 

 

 

1:15 PM

 

Contractual Recognition of Bail-in - ISDA 2016 Bail-in Article 55 BRRD Protocol

This session will focus on the key Article 55 BRRD requirements and the ISDA 2016 Bail-in Article 55 BRRD Protocol, which allows entities to efficiently comply with such requirements.

Erryan Abdul Samad, Assistant General Counsel, ISDA

James Barton, Senior Associate, Allen & Overy

 

 

 

2:00 PM

 

Contractual Recognition of Bail-in - The ISDA Resolution Stay Protocols

This session will examine the Contractual Recognition of Stays in the context of the ISDA Protocols.

 

ISDA 2015 Universal Resolution Stay Protocol

This session will contain a high level overview of the development, structure and effect of the ISDA 2015 Universal Resolution Stay Protocol, which enables adherents to opt-in to and recognize stays applicable to their counterparties, regardless of the governing law of their financial contracts and provides a framework for preventing the early termination of contracts based on an affiliate of a counterparty entering proceedings under the US Bankruptcy Code.

 

ISDA Resolution Stay Jurisdictional Modular Protocol

To expand the contractual approach to Cross-Border recognition of resolution actions, regulators are introducing requirements for banks to obtain contractual consents and opt-ins from their counterparties under a variety of financial contracts (Stay Regulations). To enable market participants to efficiently comply, ISDA created the ISDA Jurisdictional Modular Protocol. This session provides an overview of the structure of the ISDA Jurisdictional Modular Protocol and adherence mechanics.

 

This session includes detailed information on the following topics:

  • Relationship between the ISDA Resolution Stay Protocols
  • The modular structure and each Jurisdictional Module’s relationship to Stay Regulations

Erryan Abdul Samad, Assistant General Counsel, ISDA

Ethan Tan, Associate, Allen & Overy

Stephen Trevis, Managing Director, Legal, Barclays

 

 

 

3:00 PM

 

Afternoon Break

 

 

 

3:15 PM

 

Stay Regulations and Jurisdictional Modules

This session provides an overview of the currently enacted Stay Regulations in the United Kingdom and Germany and how the published UK (PRA Rule) Jurisdictional Module, the German Jurisdictional Module and Japanese Jurisdictional Module enable compliance with these Stay Regulations, including:

  • Scope of contracts covered
  • Scope of entities covered
  • Substantive amendments

Michael Hardy, Managing Associate, Linklaters

Colin Rice, Partner, Norton Rose Fulbright

 

 

 

4:00 PM

 

Status of Stay Regulations in Other Jurisdictions

This session provides an overview of the status of regulations in other jurisdictions, including the France, Japan, Switzerland, and the United States, with particular focus on the rules proposed in the US by the Federal Reserve and the Office of the Comptroller of the Currency.

Colin Rice, Partner, Norton Rose Fulbright

 

 

 

4:30 PM

 

Panel and Q&A

This panel session will include an explanation of:

  • Next steps on the ISDA Jurisdictional Modular Protocol
  • Creditor perspectives

Delegates will have the opportunity to ask questions at the end of this session.

Jing Gu, Senior Counsel, ISDA

Katie Melville, Director, Regulatory Affairs, Deutsche Bank AG

 

 

 

5:00 PM

 

Conference Concludes

 


Agenda is subject to change

- REGISTRATION FEE* -
$ 650 U.S. (member) / $ 750 U.S. (non-member)
*The invoice total must be paid in full - registration fees are net of tax and wire transfer fees are not included.

We suggest registering at least two weeks in advance to ensure your seat.

Please click here for the Conference Registration Form.

 

Marina Mandarin Singapore, 6 Raffles Boulevard, Marina Square, Singapore 039594, Phone: + 65-6845-1000

 


 


For more information regarding conferences or exhibition opportunities, please contact the ISDA conference department

at +1 212-901-6000  or e-mail conferences@isda.org