On Wednesday 13 February Linklaters partner Michael Voisin
gave evidence to the House of Lords’ EU Financial Affairs Sub-Committee on central counterparty clearing houses (CCPs) post-Brexit. Appearing alongside Daniel Maguire, Chief Executive Office at LCH, a leading global clearing house, Michael was invited as a representative of the Futures Industry Association at their request.
The Committee was interested in hearing views on how well prepared CCPs are for Brexit, what they might do in the face of a no-deal and what challenges and issues still remain for CCPs. We referenced issues facing organisations in this regard, the range of options available at this moment, contingency planning and where further clarity is needed including the lack of equivalence regime for trading venues.
As global head of the firm’s Capital Markets practice, Michael is widely acknowledged as an authority on derivatives law and practice. He advises on sophisticated financial products, including repackagings, securitised, OTC and exchange traded derivatives, investment fund products (including CPPI products), collateralised debt obligations, regulatory capital raising for financial institutions, and note and warrant programmes.
Brexit is unique in its scope and complexity. It affects businesses across all sectors, yet no two businesses face precisely the same challenges; everything depends on the nature and footprint of their operations as well as those of their suppliers and customers. To help organisations approaching the challenges and opportunities presented by Brexit, Linklaters has established a global team of leading lawyers with expertise across diverse sectors. We are continuously analysing the full range of Brexit-related risks and opportunities facing businesses and developing strategies to manage them effectively. Working in partnership with our clients, our team offers strategic and practical advice to help plan and shape an effective response to Brexit.
For more information on our Brexit service and how to contact the team, please visit our Brexit page