Summary: On July 17, ISDA’s accounting committee responded to the European Commission’s (EC) consultation on ‘Fitness Check on the EU Framework for Public Reporting by Companies’. ISDA’s members stressed that the main objective of IFRS is to provide useful information to investors, lenders and other creditors to assist them in making decisions about buying, selling, settling or holding equity and debt instruments and other forms of credit. The IFRS is not – and should not be – designed to ensure financial stability or to promote sustainability. The main achievements of IFRS have been to help develop cross-border markets within the EU and across the globe. A single accounting framework has strengthened confidence in financial reporting, reduced the costs of reporting for entities with multinational operations and promoted the free movement of accounting personnel.
Documents (1) for ISDA responds to EC Consultation on Fitness Check on EU Framework for Public Reporting
Latest
ISDA Letter to FASB on Agenda Consultation
On June 30, ISDA submitted a comment letter to the Financial Accounting Standards Board (FASB) in response to the proposal File Reference No. 2025-ITC100, Agenda Consultation. In the letter, ISDA believes the highest priority should be given to expanding the hedge...
Joint Paper on UK EMIR Reform
On July 1, ISDA and UK Finance published a paper, which recommended a set of reforms for the UK European Market Infrastructure Regulation (UK EMIR), carefully considering each EU EMIR 3.0 reform and asking whether we would wish to adopt...
Response to FCA on UK EMIR Reporting
On June 30, ISDA submitted a response to chapter 5 of the UK Financial Conduct Authority’s (FCA) quarterly consultation CP25/16 on trade repository reporting requirements under the UK European Market Infrastructure Regulation (UK EMIR). Chapter 5 proposes ‘Amendments to the...
CDS Trading Activity in EU, UK and US Markets
This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...