When publishing its capital markets union proposal in September 2015, the European Commission (EC) launched a consultation on the cumulative impact assessment of European financial legislation in order to identify the areas where adjustments would help growth and jobs in the European Union. ISDA submitted a response to this cumulative impact assessment that predominantly focuses on the following three topics: a) capital rules; b) market transparency rules (pre-trade public transparency of derivatives markets under the Europe’s revised Markets in Financial Instruments Directive; and c) review of the European Market Infrastructure Regulation, which addresses reporting to trade repositories, central clearing and margining of derivatives. The introduction of this response aims to strongly support and demonstrate the benefits of derivatives markets for the economic growth. This response will serve as a reference for ISDA’s advocacy efforts in the coming months in Europe.
Documents (1) for ISDA responds to the EC’s consultation on European financial legislation impact
Latest
ISDA AGM Studio: Michelle Beck, FCA
Michelle Beck, director for wholesale buy‑side oversight at the Financial Conduct Authority, speaks with ISDA’s global head of public policy, Steven Kennedy, about the regulatory approach to systemic risk in non‑bank financial intermediation after a panel discussion on how robust...
Response to MAS on Treatment of Crypto Assets
On May 15, ISDA and the Asia Securities Industry and Financial Markets Association submitted a joint response to the Monetary Authority of Singapore’s (MAS) consultation, published in April 2026, on the prudential treatment of crypto assets on permissionless blockchains, welcoming MAS’s more...
Joint Response to EC on Market Risk Delegated Act
ISDA and the Association for Financial Markets in Europe (AFME) have responded to the European Commission’s (EC) consultation on the draft legal text of the upcoming market risk delegated act. The associations welcome the ongoing efforts to address the implementation...
ISDA/ASIFMA/GFXD Letter to RBI on INR-Denominated FX Derivatives Reporting
On March 9, 2026, ISDA, ASIFMA, and GFXD submitted a joint letter to the Reserve Bank of India (RBI) in response to the RBI’s Reporting Instructions for Authorised Dealer (AD) Category – I Banks draft directions to mandate the reporting...