The International Swaps and Derivatives Association has launched a project to bring its master agreement and credit support document forms into compliance with the requirements of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) governing swaps and security-based swaps. The detailed rules promulgated by the CFTC and the SEC under the mandate of Title VII set many specific requirements for trading relationship documentation and also impose other obligations on market participants (such as notice and general disclosure obligations) that can be most efficiently discharged by way of standardized document provisions.
The scope of the project includes:
• a standard set of amendments to facilitate updating of existing swap relationship documentation for Dodd-Frank compliance purposes;
Please see full publication below for more information.