|Date||Title / Description||Documents|
January 27, 2014
ISDA response to ESMA Level 2 MAR consultation
On January 27, ISDA responded to the European Securities and Markets Authority’s (ESMA) discussion paper on measures for implementation of the rules on market abuse and insider dealing under the Market Abuse Regulation (MAR). The letter highlights that any Level 2 legislation should not go beyond the mandate provided by the regulation and should avoid over prescriptive requirements. Implementing measures should also take into account the specificities of different instruments and market participants, while ensuring a level playing field. In particular, ISDA asked for clarification of rules on market soundings, indicators of market manipulation and public disclosure of inside information and delays.
January 24, 2014
ISDA response to IOSCO consultation on the implementation of Oil Price Reporting Agencies (PRA) principles
On January 24, ISDA submitted a response to the International Organization of Securities Commissions (IOSCO) consultation on the implementation of PRA principles. ISDA supports the implementation of the PRA principles and recognises they identify the specificities of oil markets. Accordingly, ISDA does not support alignment of these principles with the IOSCO general principles for financial benchmarks.
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.
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.)
October 9, 2013
ISDA/JAC response to HMT & BIS consultation on Banking Reform: draft secondary legislation
On October 9, ISDA submitted two responses to the consultation issued by HM Treasury & Department for Business Innovation and Skills on Banking reform: draft secondary legislation (issued in July).
The first response was on behalf of the Joint Associations Committee (JAC) on Retail Structured Products in relation to structured issues.
The second response considers proposals for ring-fenced banks to be permitted to sell simple derivatives products only to their customers.
September 20, 2013
ISDA/AFME joint response to the EC on the Regulation on short selling and certain aspects of credit default swaps (the Regulation)
On September 20, ISDA & AFME submitted a joint letter to the European Commission on the current review of the Regulation on short selling and certain aspects of credit default swaps (the Regulation).
September 16, 2013
ISDA-BBA response to the ESMA CP “Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR”
On September 16, ISDA and BBA submitted their response to the ESMA consultation paper entitled “Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR”
September 12, 2013
Final ISDA/BBA response to the ESMA DP on the Clearing Obligation
On September 12, ISDA and the BBA responded to the ESMA Discussion Paper on the Clearing Obligation under EMIR published on July 12, 2013 related to the preparation of the regulatory technical standards.
August 21, 2013
ISDA, EFET, FOA & GFMA joint response to the European Commission regarding the definition of financialinstruments under MiFID II
ISDA – EFET – FOA – GFMA joint response to the European Commission, European Parliament, Lithuanian Presidency regarding the definition of financial instruments under MiFID II, in particular the wording in Annexe 1, Section C6 of the Council’s
compromise text adopted by ECOFIN on June 21 2013.
August 20, 2013
Methodology for Regulatory Comparisons (Substituted Compliance)
This paper sets forth ISDA’s views regarding a conceptual framework and substantive processes for inter-jurisdictional recognition of derivatives regulation through a principles-based substituted compliance methodology. Our framework prioritizes achievement of the G-20 goals for OTC derivatives.