Tue, Jun 9, 2020Event Details for ISDA Symposium® Regulatory Reporting: Changing rules, global standards and improving reporting efficiency Register Now for ISDA Symposium® Regulatory Reporting: Changing rules, global standards and improving reporting efficiency
This half-day symposium will provide an update on benchmark reform efforts globally. Since 2013, IOSCO and the FSB Official Sector Steering Group (OSSG) and public-private sector working groups in various jurisdictions have been working to reform major interest rate benchmarks, identify alternative rates and develop plans for adoption of those rates. In parallel with these efforts, ISDA and others have been leading work to enhance contractual robustness of derivatives and other financial instruments by implementing clear and certain fallbacks that would apply if a key benchmark is permanently discontinued. The importance of this work was amplified in July 2017 when the UK Financial Conduct Authority announced that it would not compel or persuade panel banks to submit to LIBOR after 2021, which called into question the future of LIBOR after that date. This symposium will cover market, economic, operational and legal issues related to these topics.
3.25 CPD Credit Hours Available (England and Wales)
3.5 CLE Credit Hours Available (New York) Transitional and Nontransitional
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Wednesday, June 10, 2020Print Agenda ISDA Symposium® Benchmark Reform for
8:30 AM Registration and Continental Breakfast
9:00 AM Introduction and Welcoming Remarks Ann M. Battle
9:15 AM Transition to Risk-Free Rates Phoebe Coutts, Patrick Chamberlain, Edward Ocampo
Together with national working groups such as the Working Group on Sterling Risk-Free Reference Rates in the UK, ISDA and its members are working to build derivatives markets in alternative risk-free rates on a going forward basis and to address risks of legacy portfolios, including in particular legacy portfolios that reference LIBOR other key IBORs. This panel will cover the work of ISDA and the national working groups and touch on how all the different initiatives fit together within the cleared and non-cleared derivatives markets. It will also cover implications for derivatives collateral and discounting.
Moderator: Phoebe Coutts, Managing Associate, Linklaters LLP
Patrick Chamberlain, Managing Director and Senior Counsel, Goldman Sachs
Edward Ocampo, Advisory Director, Quantile Technologies Ltd.
10:00 AM Implementation of Fallbacks in Derivatives Ann M. Battle, David Horner, Heather Pilley, Jonathan Seymour, Deepak Sitlani
At the request of the FSB OSSG, ISDA is leading global work to implement fallbacks for LIBOR, EURIBOR and other key IBORs in the 2006 ISDA Definitions. This panel will cover ISDA’s work, including an in-depth discussion of the upcoming IBOR fallback protocol and Bloomberg’s publication of the fallback rates.
Moderator: Ann M. Battle, Assistant General Counsel, Head of Benchmark Reform, ISDA
David Horner, Head of Risk, Rates Derivatives, LCH
Heather Pilley, Benchmarks Policy, Markets Policy, Strategy and Competition Division, Financial Conduct Authority
Jonathan Seymour, Data Strategy, Bloomberg
Deepak Sitlani, Partner, Linklaters LLP
11:00 AM Coffee Break
11:30 AM Update on European Benchmark Reform Rick Sandilands
This work will cover benchmark reform in Europe, including updates on EURIBOR, EONIA and €STR, the work of the European Risk-Free Rate Working Group and related updates to ISDA’s documentation. It will also cover the European Benchmark Regulation and related regulatory initiatives.
Moderator: Rick Sandilands, Senior Counsel, Europe, ISDA
12:15 PM Interactions Between Cash Products and Derivatives Caroline Dawson, Katie Kelly, Kam Mahil, Tamsin Rolls
Numerous cash products, including loans, securitisations, bonds and consumer products also reference LIBOR and other IBORs. What efforts are underway globally to transition these products to alternative risk-free rates? How are derivatives and cash markets coordinating to ensure continued effectiveness of hedges and as much consistency as possible in the market? How should market participants address legacy exposure to LIBOR in particular in cash products (e.g., bonds) that are difficult or impossible to amend?
Moderator: Caroline Dawson, Partner, Clifford Chance LLP
Katie Kelly, Senior Director, Market Practice & Regulatory Policy, International Capital Market Association
Kam Mahil, Senior Director, Loan Market Association
Tamsin Rolls, Executive Director and Assistant General Counsel, JP Morgan
1:00 PM Symposium concludes
Agenda is subject to change.
VenueBack to Top
Allen & Overy LLP, One Bishops Square, London, E1 6AD. Phone +44 (0) 203 808 9700. A map to the venue can be found here. You will be required to provide photo identification in order to enter the venue. Please ensure you present this at the ground floor reception or you may be refused entry.
SpeakersBack to Top
Ann M. Battle
Assistant General Counsel, Head of Benchmark Reform
Managing Director and Senior Counsel
Clifford Chance LLP
Head of Risk, Rates Derivatives
Senior Director, Market Practice & Regulatory Policy
International Capital Market Association
Loan Market Association
Quantile Technologies Ltd.
Benchmarks Policy, Markets Policy, Strategy and Competition Division
Financial Conduct Authority
Executive Director and Assistant General Counsel
Senior Counsel, Europe
PricingBack to Top
Registration fee is for one person to attend the entire event. Pass may not be split between multiple attendees.
Groups of three or more attendees from the same firm can receive a 20% discount on event registrations. To register your group, please email email@example.com prior to the event.
Course LevelBack to Top
Basic knowledge of derivatives documentation is beneficial but not mandatory. Some knowledge of financial markets is assumed. No advance preparation is required.
AccreditationBack to Top
ISDA is an accredited provider of continuing education credits by the following organizations:
ISDA has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the state of New York.
ISDA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors: 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. www.nasba.org
ContactBack to Top
©ISDA Symposium is a registered trademark of the International Swaps and Derivatives Association, Inc.