On September 7, ISDA wrote to European authorities to highlight the risks posed to EU banks, investment firms and pension funds, as well as UK pension funds, by the fact that UK pension funds will cease to benefit from the exemption under the European Market Infrastructure Regulation (EMIR) clearing obligation for pension scheme arrangements following the end of the Brexit transition period on December 31, 2020. The letter sets out a number of proposed solutions that European authorities could adopt to mitigate the impact. This change in regulatory treatment will have cost and other implications for affected pension scheme arrangements, their counterparties and citizens whose retirement income depends on these investments.
Click on the attached PDF to read the letter in full.
Documents (1) for Letter on Post-Brexit Exemption for Pension Scheme Arrangements under EMIR
Latest
Response to EC Consultation on Carbon Price
On June 10, ISDA responded to the European Commission’s (EC) consultation on the calculation of the carbon price paid in a third country under Article 9 of the Carbon Border Adjustment Mechanism (CBAM). ISDA supports the EC’s proposal that evidence...
Response to CFTC on Clearing Requirements
On June 11, ISDA responded to the US Commodity Futures Trading Commission’s notice of proposed rulemaking on the clearing requirement determination under Section 2(h) of the Commodity Exchange Act for interest rate swaps to account for Canadian dollar-denominated and Mexican...
Digital Assets and Derivatives: Where Next?
Digital assets are moving into a phase of institutional integration into derivatives markets. Trading venues, custodial infrastructures and tokenization platforms now exist across both traditional financial markets and public blockchain networks. While this diversity has accelerated innovation and liquidity formation,...
ISDA Publishes ISDA SIMM® Methodology, Version 2.8+2512
Following the 2026 primary calibration exercise, ISDA is pleased to publish SIMM® version 2.8+2512. This version of the ISDA SIMM has updates that are based on the full recalibration of the model using historical data up to 31 December 2025....