LIBOR transition: The FCA is thinking about conduct risk – are you?

The LIBOR transition is one of the broader reaching changes to affect the financial services industry in recent years due to the wide range of products it affects. As part of that process many existing financial products offered to clients will need to change, so along with the obvious costs and financial and operational risks Read more about LIBOR transition: The FCA is thinking about conduct risk – are you?[…]

LIBOR in Lyncs

LIBOR Benchmark Reform and Regulation in Lyncs

Document remediation projects are not new.  Anyone working in Capital Markets in recent years can probably describe the steps involved as they tend to be similar each time.  Recent battle scars in the derivatives world include Uncleared Margin Reform (UMR) where large volumes of derivatives documents had to be amended – first for variation margin and more Read more about LIBOR Benchmark Reform and Regulation in Lyncs[…]

Support for the Bank Resolution and Recovery Directive (BRRD)

Are you on top of your trade contracts with respect to BRRD and the 43 information fields required? The required BRRD information must be drawn from a combination of transactional, reference and legal contract data. While most banks will have the transactional and reference data in a digital format, many will not have the required Read more about Support for the Bank Resolution and Recovery Directive (BRRD)[…]

Future of Financial Contract Documentation - a guide for adoption

The future of financial contract documentation

The legal industry is ripe for an injection of modern technology and that has not gone unnoticed by myriad start-ups all vying to bring the revolution. Creating better ways of doing things is often the easy part; the culture shift required for adoption is much harder, particularly when dealing with a profession steeped in tradition. Read more about The future of financial contract documentation[…]

Know the rules

BRRD requirements on minimum record keeping came into force while you were looking the other way!

Still sprinting for finishing line of Uncleared Margin Reform? Hope you are keeping good records!

With the banking regulation spotlights focused heavily on uncleared margin reform (UMR) for the last 6 months, you might not have noticed the latest Bank Recovery and Resolution Directive update on record keeping for financial contracts coming into law in October 2016, requiring banks to maintain specific, minimum records on their financial contracts.

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Margin reform for uncleared derivatives: ensure you build on solid foundations

Margin reform regulation requires non-cleared derivatives users to repaper their ISDA documentation.

Vendor offerings exist to address client outreach through renegotiation, including smart, rule driven solutions that cover document assembly and metadata recording at point of authoring.

Few are addressing how this co-exists with legacy documentation, or allows new documents and contracts authored elsewhere to be captured.