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
Next Steps on a Much Improved Basel III Endgame
Publication of the revised Basel III endgame proposal earlier this month marks an important step towards completion of the global capital reforms, giving banks much-needed clarity on the likely calibration of the rules in the US. The new proposal is...
Paper on Market Integration Plans
On March 20, ISDA shared its position paper on better regulation and supervision within the European Commission’s (EC) Market Integration and Supervision Package (MISP) proposal with decision makers in the European Parliament, the Council of the European Union and the...
Gentek AI Selected to Develop DRR Traceability
ISDA has selected Gentek AI to develop a new traceability tool for the ISDA Digital Regulatory Reporting (DRR) solution, enhancing transparency for users of the ISDA DRR. The traceability tool will allow users to look back at the history of...
ISDA Guidance: SOFR Publication on Good Friday 2026
ISDA guidance for parties to over-the-counter derivative transactions affected by expected non-publication of SOFR on Good Friday in 2026. Please note that the guidance may be updated from time to time.