JAC responds to EC consultation on the Prospectus Directive

On February 18, 2014, the European Commission published a consultation paper relating to the review of the Prospectus Directive. The paper sought to identify the needs of prospectus users with regards to scope, form, content, comparability, the approval process, liability and issuers. Feedback was also requested on aspects that unduly hinder access to capital markets, liability and sanctions. The Joint Associations Committee on Retail Structured Products response focuses on the questions that are of particular interest to the structured securities industry.

Global Trading in INR Derivatives

Global trading in derivatives involving the Indian rupee (INR) has expanded significantly over the past decade, reflecting the currency’s growing role in international hedging and trading activity. According to the Bank for International Settlements (BIS) Triennial Central Bank Survey, the...

Response to FCA on Commodity Derivatives Clearing

On April 9, ISDA, the Commodity Markets Council Europe (CMCE), Energy Traders Europe (ETE) and FIA jointly responded to Chapter 7 of the UK Financial Conduct Authority’s (FCA) Quarterly Consultation CP26/8 on increasing the clearing threshold for commodity derivatives under the UK...

Response on EC’s SFR Proposal

On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to...