On this call, the panel discussed the scope of the ISDA netting opinion for China and the implications of this for market participants, including in relation to regulatory margin requirements. They also considered how netting arrangements could be affected by the provisions in the draft EU Insurance and Recovery Directive, by the proposals in the UK Financial Services and Markets Bill on the resolution of insurers, and by the potential adoption into UK law of two UNCITRAL model laws relating to cross-border insolvencies.