The ISDA Industry Governance Committee (IIGC) is made up of senior business professionals from the ISDA Board and IIGC committees. Its role is to oversee all strategic issues and lead the dialogue with regulators and market participants on key regulatory implementation issues in the global derivatives markets. The IIGC will also consider issues such as extra-territoriality that affect many different parts of the regulatory landscape. The ISDA Public Policy team in each region will facilitate the dialogue with supervisors and regulators.
The IIGC structure has evolved to include ISDA Regulatory Implementation Committees (RICs). These Committees – Risk & Margin, Conduct Of Business, Organized Trade Execution and Data & Reporting — are charged with addressing specific issues within their domain as outlined in the image below. The existing ISDA Product Steering Committees are primarily asset class specific (Credit, Rates, Equity and Commodities). They are made up of senior business management at the asset class level and focus on providing product-specific perspective to the IIGC and the RICs.
IIGC Chair: Charles Mulhern, Wellington Management Company
Latest
Response on Proposed Changes to Transaction Rules
On May 22, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association submitted a joint response to the Australian Securities and Investments Commission's (ASIC) consultation on proposed changes to the ASIC Derivative Transaction Rules (Reporting)...
EBA FRTB-ASA Benchmarking Support for Newly In-scope Banks
A new regulatory requirement is expected to bring additional EU banks into scope for submitting Fundamental Review of the Trading Book (FRTB) Alternative Standardized Approach (ASA) capital as part of the European Banking Authority’s (EBA) benchmarking exercise. ISDA Capital Models...
Joint Letter on Sunset of Swaps TR Rules
On May 20, ISDA, FIA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to US Commodity Futures Trading Commission (CFTC) to request the CFTC to sunset large trader reporting rules (LTR) rules for physical commodity...
ISDA, SIFMA Letter on SEC-CFTC Harmonization
On May 19, ISDA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) on SEC and CFTC harmonization, as part...