ISDA has published the results of a market-wide consultation conducted by Boston Consulting Group (BCG) on proposed changes to the structure and governance of the Credit Derivatives Determinations Committees.
The consultation indicates there is broad market support to implement many of the recommendations proposed by Linklaters as part of an independent review on the composition, functioning, governance and membership of the DCs. These include establishing a separate governance body, implementing certain transparency proposals relating to the publication of DC decisions and appointing up to three independent members of the DCs.