On October 9, ISDA published a paper jointly supported by six other national financial sector trade bodies (the Association of German Banks, ASSOSIM, Banking and Payments Federation Ireland, the Danish Securities Dealers Association, the Dutch Banking Association and the Swedish Securities Dealers Association) on ‘cliff edge’ risks for over-the-counter derivatives associated with a ‘no-deal’ Brexit.
The paper focuses in particular on immediate adverse impacts on EU 27 firms and EU 27 clients of UK entities – and, in some cases, UK firms and clients and counterparties of EU 27 firms.
ISDA has now published a webinar that covers three main areas from the paper:
- Discussion of the main ‘cliff edge’ effects under EU law and any available mitigation under existing EU law;
- ‘Hiatus risk’; and
- Recommendations on steps that can be taken now to address the risks of a ‘cliff edge’ Brexit.
Watch: ‘No Deal’ Brexit – ‘Cliff Edge’ Risks for Derivatives Webinar
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