ISDA publishes comprehensive China-specific memorandum

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The International Swaps and Derivatives Association (ISDA) recently published its first industry-wide PRC legal memorandum to analyze a range of legal issues that may affect the validity of the association’s collateral arrangements under PRC law.

isda-publishes-comprehensive-china-specific-memorandum“This is particularly important in assisting ISDA members to assess the legal treatments for collaterals posted by a PRC counterparty in the context of the rollout of new margin requirements for non-cleared derivatives developed by the Basel Committee on Banking Supervision and International Organisation of Securities Commissions,” King & Wood Mallesons (KWM) Hong Kong partner, Minny Siu, told China Business Law Journal. Siu and a KWM team advised the ISDA on the document’s publication.

The new margin requirements for non-cleared derivatives were rolled out in some jurisdictions on 1 September, and the margin framework was expected to be implemented in other jurisdictions over time.

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