Derivatives, France updates

Preparations for no-deal Brexit: continued application of market master agreements
  • France
  • 29 May 2019

The government recently adopted Ministerial Order 2019-75, which aims to ensure that International Swap Derivatives Association-type master agreements on financial services continue to be used. To enable EU clients to pursue their existing contractual relationships after a no-deal Brexit, the order offers a simplified method of replicating a master agreement with an EU entity that belongs to the same group of companies as the UK financial institution with which that client had an existing contractual relationship.

Preparing for a no-deal Brexit: master agreements on financial services
Hughes Hubbard & Reed LLP
  • France
  • 06 March 2019

In January 2019 France passed Act 2019-75, which authorised the government to take measures to prepare for the United Kingdom's departure from the European Union without a deal by way of ministerial orders, particularly in the area of financial services. Subsequently, in February 2019 the government adopted a ministerial order which, among other things, aims to ensure that International Swaps and Derivatives Association-type master agreements on financial services continue to be used.

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