Financial Law Reform

Financial Law Reform covers a range of legal and legislative developments at global, regional and national level that affect trading in OTC derivatives. It is the ISDA forum that discusses and drafts ISDA submissions on matters ranging from laws on insolvency (netting, set-off, recovery and resolution) and property (collateral) to more general securities law matters as well as a wide range of private international law matters to various national, regional (eg EU) and global (eg UNIDROIT, UNCITRAL, Hague Conference on Private International Law) entities.

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DateTitle / DescriptionDocuments
March 31, 2014
ISDA response to Swiss draft bill on financial market infrastructure (FINFRAG) – submitted in German
ISDA response to the draft Swiss FMI act/FINFRAG. The draft FINFRAG bill intends to underpin and consolidate some of the provisions in the FINMA regulation, and covers a number of issues regarding bank insolvency, as well as new requirements on central clearing and trade reporting.
http___assets.isda.org_media_19a37abd-2_20831301.pdf
October 31, 2013
ISDA Response to Consultation on the Assessment Methodology of FSB Key Attributes of Effective Resolution Regimes
ISDA reponse to the Secretariat to the Financial Stability Board (FSB) Consultation on the Assessment Methodology of FSB Key Attributes of Effective Resolution Regimes with particular focus on Question 3 of the Consultative Document on netting and collateral arrangements that are key to credit risk mitigation in the derivatives markets.
FSB_ KA_AssessmentMethodology_ISDA_response_Oct13.pdf
September 9, 2013
ISDA Publishes the 2013 ISDA Arbitration Guide
The 2013 ISDA Arbitration Guide provides guidance on the use of an arbitration clause with the 1992 and 2002 versions of the ISDA Master Agreement. It includes a range of model arbitration clauses covering a number of institutions and seats of arbitration around the globe. The Guide is supplemental to ISDA User’s Guide and amends Section 13 of the ISDA Master Agreement. It provides the first comprehensive set of ISDA model arbitration provisions and can be used worldwide.
ISDA_Arbitration_Guide_Final_09.09.13.pdf ISDA publishes model arbitration clauses for Master Agreements.pdf
January 31, 2013
ISDA response to European Commission consultation on the mutual recognition and enforcement of judgments world-wide (Hague Judgments Project)
ISDA response to European Commission consultation on the mutual recognition and enforcement of judgments world-wide (Hague Judgments Project)
EU_DGJustice_Hague_Judgments_Project_ISDAResponse_Jan 13_v2.pdf
September 24, 2012
ISDA response to UK HMT consultation on broadening the special resolution regime into non-bank financial institutions
ISDA response to UK HMT consultation on broadening the special resolution regime into non-bank financial institutions
UK_HMT_ISDA_Response_condoc_invest_firm_resolution_Sep12.pdf
June 21, 2012
ISDA comments on the revision of the EU Insolvency Regulation
European Commission – Directorate General for Justice.
EU_EUIR_ISDA_Response_Jun12_Final.pdf
April 20, 2012
European Commission - DG MARKT
ISDA response to European Commission discussion paper on the debt write-down tool/bail-in.
EU_Bail-in_DiscussionPaper_ISDA_Response_Apr12.pdf
March 2, 2012
ISDA response to Swiss Consultation on Draft Banking Insolvency Regulation (in German)
Response to FINMA (Switzerland)
CH_ISDA_Letter_FINMA_Mar12.pdf
November 10, 2011
The use of arbitration under an ISDA Master Agreement: feedback and policy options
FLRC follow-up memo for ISDA Members
Arbitration_ISDA_memo_Pt2_Nov11_Final.pdf
September 1, 2011
ISDA response to FSB consultation on the effective resolution of systemically important financial institutions
Comment letter
FSB_SIFI_ConDoc_ISDA_Response_Sep2011.pdf