UK Opts in to EU Brussels 1 Regulation

International Swaps and Derivatives Association

April 8, 2011

On 5 April 2011, the House of Lords European Union Committee recommended a UK opt-in to the European Commission's proposal to revise the Brussels I Regulation on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters.

The European Commission's new proposal would repeal and replace the current, imperfect legislation with a more modern Regulation which directly addresses the European market in cross border derivative transactions.