On June 8, ISDA and UK Finance jointly wrote to HM Revenue & Customs (HMRC) to respond to their consultation on tax impacts arising from the withdrawal of LIBOR. The associations welcomed the consultation and the draft guidance included on the subject. As noted in previous correspondence with HMRC, certain tax omissions and certain tax aspects could potentially have material implications and/or cause uncertainties, which may serve as a barrier to secure the consent needed from derivatives counterparties to make contract amendments and could risk obstructing the broader benchmark reform transition project.
Documents (1) for ISDA Responds on Tax Impact of LIBOR Withdrawal
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Guidance for EU IM Model Application for ISDA SIMM®
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Joint Response on Stress Testing Framework
On February 23, ISDA, the Bank Policy Institute, the American Bankers Association, the Financial Services Forum, the Securities Industry and Financial Markets Association and the US Chamber of Commerce jointly responded to the US Federal Reserve’s consultation on the stress...
Joint Letter on Italian 2026 Budget Law
On February 23, ISDA, the Association for Financial Markets in Europe and the International Securities Lending Association jointly sent a letter to the Italian tax authorities about changes to withholding tax on dividends made in the 2026 budget law, which...
Response to FCA on UK MIFIR Consultation
On February 20, ISDA responded to the Financial Conduct Authority’s (FCA) consultation on improving the UK Markets in Financial Instruments Regulation (MIFIR) transaction reporting regime. The consultation aims to reduce the regulatory burden on firms, support sustained economic growth in...