In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

In brief On 23 October 2020, ISDA launched the ISDA 2020 Fallbacks Protocol (the IBOR protocol) and the ISDA Fallbacks Supplement to the 2006 ISDA Definitions (the IBOR Supplement). In this alert we provide a summary of the protocol and supplement, its implications and suggested next steps for firms regarding…

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey…

Recent falls in equity markets mean that many listed companies may appear attractively priced, for a period at least. With significant levels of dry powder available to financial investors and potential delays to at least some private M&A processes, we expect the focus on “take-private” transactions to increase during the…

As 2020 comes into view, what can we expect to be at the top of regulators’ agendas? Key themes that are new from last year are ESG and an increased focus on operational resilience. Both EU and UK authorities are looking at how buy and sell-side firms should embed ESG…