FIA and FIA Tech are pleased to be able to invite AIMA members to a webinar providing an overview of the recently released 2018 Give-Up Agreement Transfer Protocol.

Initiative Overview:
In preparation for potential Brexit-related business migrations, many firms have indicated that a significant number of new Give-Up Agreements may be needed to service clients via EU27-based affiliates or branches.  Given the operational and legal efforts required to initiate and execute a high-volume of individual agreements in a short period of time, firms have requested additional tools to assist in streamlining re-papering efforts.  FIA Tech has worked with the FIA Law & Compliance Division to develop legal and technical solutions enabling these bulk-agreement transfers between entities.  To this end, the 2018 FIA Tech Give-Up Agreement Transfer Protocol (the Protocol) has been created, which firms may adopt to support these bulk agreement transfers between affiliates.

Protocol Overview:
By adopting the Protocol once, parties to existing Give-Up Agreements agree to the legal process of cloning the terms of existing agreements with obligations transferred to a qualified broker affiliate or branch. While created with careful consideration of Brexit-driven transitions, the Protocol has been designed to support other types of corporate or regulatory-driven transitions.