As a profession, lawyers are perhaps not best known for their eager embrace of new technology. The cynically-minded may say such reticence does not extend to the pursuit of money. The advent of new technologies, credibly promising substantial savings, will put these previously compatible stereotypes to the test. Over the last few years, ISDA and […]

On 9 October 2020, ISDA published the advent of the long-awaited Fallbacks Protocol (“the Protocol”) and updated 2006 Definitions (“the Supplement”). While the official Launch Date is 23 October 2020, early adopters may adhere in advance by application to their ISDA contact. The publication marks the beginning of the largest, single-phase amendment project ever undertaken […]

ISDA yesterday announced a further delay to the publication of the long-awaited IBOR Fallbacks Protocol. CEO Scott O’Malia used the ISDA derivatiViews blog to inform the market that the effective date of the protocol is now expected to be mid-late January, referencing a letter to this effect sent to the Bank of England and the […]

 ISDA CEO Scott O’Malia recently published a post exhorting the wider industry not to fall into the trap of complacency in respect of IM compliance. While Mandy Rice Davies’ “Well he would, wouldn’t he” might spring to the more flippant mind, the points are well made and worth underlining. On 3 April 2020, responding to […]

As previewed, the RTS to postpone the application of the CSDR settlement discipline regime (“SDR”) until 1 February 2021 has been published in the OJ. Readers will recall that this delay was intended to give market participants some minimal extra time, to repaper documentation and allow IT systems to incorporate mandates due to be imposed […]

ESMA has confirmed its intention to extend its delay of the CSDR’s Settlement Discipline Regime (SDR) until February 2022. An initial delay from the 13 September 2020 until 1 February 2021 was awaiting non-objection by the Parliament and Council to an earlier “Final” Report. This will now be superseded by a Final(er) Report on postponing […]

Welcome to the sixth in our COVID-19 Regulatory update. Another relatively quiet period for COVID-19 related regulatory initiatives. With this in mind, forthcoming updates will be published on a fortnightly basis, or as and when sufficiently significant announcements are released.  

Welcome to the fifth in our weekly COVID-19 Regulatory update. A relatively quiet week in terms of new COVID-19 related regulation. The FCA has announced that it will be sending out weekly updates on COVID-19 for those interested, as well as clarifying the scope of SM&CR.

Welcome to the fourth in our weekly COVID-19 Regulatory update series produced early for the Easter bank holiday. A relatively quiet week for COVID-19 financial regulation. The most significant item being the rapid adoption of BCBS guidelines by MAS (Monetary Authority of Singapore) who adopted the deferred deadlines for Basel III reforms and IM Phase […]