Reports appeared on Thursday that a UK parliamentary committee has been told that reverse solicitation may – or may not(!) – help UK-based swap providers avoid breaches of EU27 law if we have a hard Brexit. None of this is news to readers here, and ISDA did a survey of the key EU27 local laws last year.

*Apparently German for “reverse solicitation”. The BaFin website defines it as “das Recht der im Inland ansässigen Personen und Unternehmen, aus eigener Initiative Dienstleistungen eines ausländischen Anbieters nachzufragen“.