D2 Legal Technology

🌐 Yesterday, we hosted a successful #BBA Member #Forum with participation from industry, academia, public services, and gov-tech. 🎙️ Prof Sarah Green shared insights on the Digital Assets Bill, and the road ahead of Crypto regulation in the UK. 📹 The video recording of the session will be available on BBA's YouTube Channel in due course. #BBA #Forum #January #Blockchain #Web3 #Crypto

Leveraging the new standardized framework for regulatory reporting based upon ISDA’s (*1) globally promoted "Digital Regulatory Reporting (DRR)" solution and the FINOS (*2) open source managed "Common Domain Model (CDM)", Japan Securities Clearing Corporation plans to begin production-parallel operations of its regulatory reporting to the Financial Services Agency (FSA, the Japanese financial regulatory authority) and the CFTC (U.S. financial regulatory authority) from June 2025. JSCC is the first CCP (Central Counterparty) and Japanese entity to announce the adoption of #DRR and #CDM within a production environment. https://lnkd.in/evQ-q7Cq

Poll: UST Clearing Rule probably delay & impact on implementation

ISDA & The Centre for Financial Technology: Challenges and Opportunities of Digital Transformation Great to be at this thought-provoking and inspiring event yesterday, co-hosted by ISDA and Imperial College Business School's Centre for Financial Technology, exploring the challenges and opportunities of #digitaltransformation within financial institutions, including #artificialintelligence, collateral management automation, #CDM and security & data loss. With thanks to the hosts & speakers including opening address by ISDA CEO, Scott O'Malia, a keynote considering the Fifth Industrial (#Digital) Revolution by Naveed Sultan, and great sessions from James Sefton, David Shone, Christine Cremel, Franklin Allen, Washington Yotto Ochieng, CBE, EBS, CEng, FREng, Harjoat Bhamra, CHRISTOPHER HENNESSY, Gilles Chemla and others

Last Friday, The Securities Industry and Financial Markets Association (SIFMA) together with other trade associations sent a letter to the U.S. Securities and Exchange Commission requesting that the implementation timeline for the UST Clearing rule be extended by at least one year for the cash and repo clearing deadlines. https://lnkd.in/eb2EqPDN The big question is how institutions will respond to this prospective delay. Will it be an opportunity to continue with current implementation plans and get ahead of the curve; or will your implementation be delayed? At D2LT, we believe it remains imperative to act now. Keep scoping, keep prioritising. Take a proactive approach to compliance and accelerate the documentation process. Contact Eric Mueller to learn more about how D2LT can help your UST Clearing readiness today.

While China’s new inexpensive #Deepseek #AI causes ripples around the world, what does this mean for legaltech? If anything, it will be positive that once the dust settles, the AI market will become more competitive and accessible from a company user perspective, leading to greater innovation. We will be watching to see the impact of this on legal professionals who are already grappling with the huge range of #legaltech AI choices which have become available and ubiquitous in the last couple of years. https://lnkd.in/e9gdmX6d

UST Clearing - what can your institution be doing now? Despite uncertainty surrounding the U.S. Securities and Exchange Commission's (SEC) new UST Rule since its announcement in 2022, there are no excuses to delay how to address the rules. Nor can institutions afford to repeat the mistakes made during the FINRA 4210 compliance process. Here at D2LT, we recommend a focused and proactive approach to compliance. It is imperative to start now. Start scoping. Start prioritising. And start looking for external expertise to accelerate the documentation process and proactively engage with clients to reinforce the business relationship. Contact us for more on how D2LT can help your UST Clearing readiness today.

Does your firm understand the impact of UST Clearing Rules on documentation? The new Treasury Clearing rules will require that firms amend existing documentation or enter into new agreements with counterparties. As there was no industry standard document for cash or repo treasury trades when the new rules were announced, there has been an industry effort, lead by SIFMA to develop a standard document, particularly for the repo trades. https://lnkd.in/dwiDPR-E Yet, even after production of an industry standard document, institutions will still have significant internal development to undertake. This will involve the creation of templates, fallbacks, and guides, as well as the amendment of existing agreements and negotiation of new contracts - the lead times for which are significant. Here at D2LT, we can advise firms on their preparation strategies, minimising the impact on business-as-usual activity and reinforcing client relationships. https://lnkd.in/dBjHyg4Y

President Trump revokes AI risk regulation in day one executive order The first day of Donald Trump’s presidency was marked by over 200 executive orders, including one regarding Artificial Intelligence (AI). https://lnkd.in/gFyXiQBw Executive Order 14110, titled "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence," [https://lnkd.in/gNdAXFR2] was signed by President Biden in October 2023. Its goal: to establish a national framework for governing AI in the United States. The directive mandated developers of AI systems, posing risks to national security, economic stability, or public health and safety, to conduct rigorous safety tests and share the results with the federal government before public deployment. Revocation of this executive order is the first strong indication of the president's intent to invoke the Republican party's campaign promises of “ AI development rooted in free speech and human flourishing" and has already prompted major investments in US AI projects and infrastructure - #Stargate

Celebrating ISDA's 40th anniversary this year!    The first ISDA documents sought to bring order to an emerging market that was struggling with a lack of standard-form documentation. Forty years on, the derivatives market has evolved beyond recognition, but standardisation of legal terms and documents remains critical. As noted by justice Briggs J in the English High Court in Lomas & Ors v JFB Firth Rixson Inc & ors [2010], the ISDA Master Agreement is “probably the most important standard market agreement used in the financial world”.   D2LT is honoured to have one of the pioneers and principal authors of the ISDA Master Agreement, Jeffrey Golden KC (Hon), as senior advisor. Congratulations ISDA and Jeff - and all those involved back in 1985 on your groundbreaking and sustained work over the last 4 decades!    Read more from ISDA on some of the key documentation milestones in this celebration year here: https://lnkd.in/ecXR684D and of course more celebration to come at the ISDA AGM this year in Amsterdam https://lnkd.in/eNAX4Zb2