The International Swaps and Derivatives Association (ISDA) has updated its publicly available FAQs on Brexit. It has also updated the more in-depth Brexit FAQs for its membership.
Among other things the FAQs asks what amendments, if any, should market participants consider making to their ISDA Master Agreement. The ISDA’s response is as follows:
“None immediately. However, there are amendments which parties may consider making depending on the likely outcome of the exit negotiations. Please see the answers to Question 8 (inclusion of additional termination rights), Question 9.3 (choice of law for non-contractual obligations), Question 9.4 9merits of amending the governing law), Question 11.1 (insertion of arbitration clauses), Question 13 (Consideration of the jurisdiction clause), Question 14 (amendments to the jurisdiction clause), Questions 25, 26 and 27 (BRRD amendments).”
View ISDA Brexit FAQs, 10 January 2018