On June 10, ISDA submitted a response to the European Commission’s (EC) consultation on the integration of EU capital markets. The consultation was launched as part of the EC’s Savings and Investment Union project. In the response, ISDA addressed themes such as:
- Burden reduction in financial reporting and in sustainable finance disclosures.
- Protection of the ability of EU firms to operate in global markets, under the Settlement Finality Directive, European Market Infrastructure Regulation (EMIR) and the Markets in Financial Instruments Regulation.
- Preserving multilateral netting and collateral certainty for derivatives business where uncertainty is currently manifest in the EU framework.
- ‘Wait and See’ as regards to more centralized EU supervision of EU central counterparties following the effectiveness of EMIR 3.
- Less encumbered ‘no action’ powers for the European Securities and Markets Authority.
Documents (1) for ISDA Response to European Commission Consultation on Integration of EU Capital Markets
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...