The SEC and CFTC have jointly requested public comment as they consider updating classification rules for innovative financial products, including event contracts and perpetual contracts.
Today the Federal Reserve Board (the Board) adopted its final rule implementing the LIBOR Act. The final rule establishes SOFR-based Board selected benchmark replacements for so called ?...
The SEC requested public comments and information on whether index providers, model portfolio providers and pricing services are acting as investment advisers under the Advisers Act, incl...
In light of the global transition away from interbank offered rates, the CFTC has proposed amendments to its list of interest rate swaps subject to mandatory clearing to remove swaps refe...
In a welcome development for so-called “tough legacy” contracts, Congress has passed legislation with the goal of establishing a clear and uniform nationwide process for replacing LIB...
In important developments in the transition from LIBOR to alternative reference rates, LIBOR’s regulator and its administrator, as well as trade groups, have made recent announcements r...
In a very significant development, the administrator of LIBOR announced on November 30 that it expects in early December to consult on its intention to cease the publication of most USD L...
On November 18, the administrator of LIBOR announced that it will, in the near future, consult on its intention to cease the publication of all GBP, EUR, CHF and JPY LIBOR settings after ...
Highlighting that legislative steps could help address the “tough legacy” contracts that cannot transition from LIBOR, the UK Government announced on June 23 its intention to expand t...
LIBOR is expected to be phased out by 2021 but US corporates continue to issue LIBOR-based floating-rate notes (FRNs). Although the defined term “LIBOR” in FRN indentures typically in...
