Your Firm and the ISDA Resolution Stay Protocol
The International Swaps and Derivatives Association, Inc. (ISDA) has laid out a new Resolution Stay Protocol intended to support cross-border resolution, strengthen the systemic stability, and reduce risks of bank failure. Eighteen major global banks agreed to adhere to the protocol, imposing early termination rights, through the power of ISDA Master Agreements. This will enable immediate termination, acceleration, and liquidation of collateral when bankruptcy or insolvency occurs. The Protocol will take effect on January 1, 2015 and will govern both existing and new derivative contracts between G-18 firms.
In a two hour, live webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will discuss the significant and latest issues with regard to the ISDA Resolution Stay Protocol.
Key topics include:
- ISDA Stay Protocol Discussed
- ISDA Master Agreement Early Termination Provisions
- Terms of the Protocol
- Regulatory Initiatives Toward Broader Adoption of Contractual Stays
- Operative Provisions of the Protocol
- Special Resolution Regimes
- US Insolvency Proceedings of Affiliates and Credit Enhancement Providers
- Latest Regulatory Developments
Warren Davis, Of Counsel
Sutherland Asbill & Brennan LLP
- Intro and history of stay protocol
- A complex protocol trying to avoid the Lehman scenario with a mass termination of contracts – this would set up a period of time to regroup License.
- Not all that dramatic for US counterparties dealing with US swap dealers.
- Tone down dramatic concerns.
Claire Hall, Of Counsel
- Protocol as it works today
David T. McIndoe, Partner
Sutherland Asbill & Brennan LLP
- Stay Protocol
Who Should Attend:
- Attorneys (Practice Area: Banking & Finance, Insurance & Related)
- Bankruptcy Lawyers and Practitioners
- Bankruptcy Professionals
- Banks and Financial Institutions’ Executives
- Banks Senior Management
- Bank and Financial Institution Auditors
- Bank and Financial Institution Executives
- Bank Executives
- Bank Regulation Lawyers
- Executives and Senior Officers of Banks, Thrifts, Credit Unions, and other Financial Institutions
- Senior Bank Executives
- Finance Executives
- Compliance Professionals
- Other Related/Interested Professionals
Claire Hall is an Of Counsel in DLA Piper’s derivatives practice. Claire joined the firm having previously worked at leading law firms in New York, Los Angeles and London. Claire has significant experience advising US and non-US clients in relation to a variety of derivatives and structured finance transactions. Claire also regularly advises on regulatory matters affecting derivative transactions and the derivatives market, including with respect to the Dodd-Frank Act and EMIR. Claire has spoken at industry conferences and has authored several articles on the topic of derivatives regulation. Claire is licensed to practice in England and Wales, New York and California.
Claire Hall is an Of Counsel in DLA Piper’s derivatives practice. Claire joined the firm having previously worked at leading …
For the past 20 years, Warren Davis has advised clients on derivatives, related risk management activities and financial disclosure. Warren is at the forefront helping clients navigate the complexities of the Dodd-Frank Act regulatory regime for derivatives, including commenting on numerous Commodities Future Trading Commission rulemakings and advising with respect to the development of new documentation for cleared and uncleared swaps. He takes care to educate himself and his clients on the risks and benefits of dealing in various types of derivatives, where subtle differences in documentation can have large real-world consequences. Warren is an adjunct professor at George Washington University Law School where he teaches the Regulation of Derivatives.
For the past 20 years, Warren Davis has advised clients on derivatives, related risk management activities and financial disclosure. Warren …
David T. McIndoe is a partner at Sutherland Asbill & Brennan LLP. Based in Washington, DC, he is co-head of the Energy and Commodity Trading Team. David has a transactional and regulatory practice focused on the trading of commodities and financial instruments. He regularly advises clients about the negotiation and execution of physical trades, derivatives and structured transactions. He also plays a significant role in derivatives reform under the Dodd-Frank Wall Street Reform and Consumer Protection Act and similar measures in Europe, Canada and Asia. David received a BA from Dartmouth College in Philosophy and a J.D. from Washington & Lee University School of Law.
David T. McIndoe is a partner at Sutherland Asbill & Brennan LLP. Based in Washington, DC, he is co-head of …
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About DLA Piper
DLA Piper is a global law firm with 4,200 lawyers in the Americas, Asia Pacific, Europe and the Middle East, positioning us to help clients with their legal needs around the world and enabling us to offer comprehensive cross-border counsel. Our lawyers are able to offer local, national and international experience and expertise. We strive to be the leading global business law firm by delivering quality and value to our clients. Our clients include multinational, Global 1000, and Fortune 500 enterprises, hedge funds, banks, financial institutions, insurance companies and emerging companies around the globe.
About Sutherland Asbill & Brennan LLP
Sutherland Asbill & Brennan LLP provides legal services worldwide to diverse clients in seven major practice areas: corporate, energy and environmental, financial services, intellectual property, litigation, real estate and tax.