On May 28, ISDA and the Association for Financial Markets in Europe (AFME) responded to the Dutch Ministry of Finance’s consultation on additional anti-dividend stripping measures, urging that the proposed rules should target only abusive arrangements and not ordinary, commercially driven capital markets transactions.
The associations argue that some proposed measures would add uncertainty, duplicate existing protections and risk harming liquidity and efficiency in the Dutch equity market. The proposed measures should not inadvertently capture ordinary derivatives-based hedging arrangements where Dutch shares are held to hedge client-facing or market risk positions. In these cases, the economic exposure to the shares may be reduced or offset as part of prudent risk management, but that does not mean the arrangement is artificial or tax driven. Treating standard hedging activity as indicative of dividend stripping would create uncertainty for legitimate derivatives and capital markets transactions.
Documents (1) for ISDA, AFME Respond to Dutch Ministry of Finance Consultation on Dividend Stripping
Latest
CDM: User Journey from Concept to Production
The Common Domain Model (CDM) is a standardized, machine-readable and executable model for representing financial products, lifecycle events and contractual information. By providing an open source shared language across firms and platforms, it supports interoperability, automation, resource optimization and reduced...
ISDA DTF Tokyo SOM Opening Remarks
ISDA Derivatives Trading Forum Tokyo, October 23, 2026 Opening Remarks Scott O’Malia ISDA Chief Executive Good afternoon, and welcome to the ISDA Tokyo Derivatives Trading Forum. Thanks for joining us today, and a big thank you to our sponsors,...
Transforming Asset Management: SOM Remarks
Transforming Asset Management October 23, 2026 Welcoming Remarks Scott O’Malia, ISDA CEO Good morning, and welcome to ISDA’s Transforming Asset Management event. It’s great to be back in Tokyo for Japan Weeks. Now in its fourth year, Japan Weeks...
Response on Dividend Stripping
On October 14, ISDA, the Association for Financial Markets in Europe (AFME) and the International Securities Lending Association (ISLA) submitted a joint response to the Dutch Ministry of Finance on its proposed measures on dividend stripping. While supporting the policy...