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Benchmarks

LIBOR Replacement Plans Bring Regulatory Considerations for Derivatives

Plans to end the long reign of the London Interbank Offered Rate (LIBOR) as one of the world's most often-used interest rate benchmarks have recently been confirmed by several top financial regulators. On July 27, 2017,...more

Preparing for the End of LIBOR

by Barley Snyder on

The U.K. Financial Conduct Authority has stated it intends to phase out the London Interbank Offered Rate (LIBOR) by the end of 2021. LIBOR is used regularly as an interest rate index in variable rate loans, and is the...more

The Financial Report, Volume 6, Number 14

by DLA Piper on

Sometimes it’s easy to criticize the regulators we deal with - for example, when a particular rule or course of action makes things more difficult or complicated and the benefit is not necessarily apparent. It can cause us to...more

The End of an Accrual Period? Replacing LIBOR Benchmark Rate

by King & Spalding on

The U.K. Financial Conduct Authority (the “FCA”) announced on July 27, 2017 that it expects to eliminate the London Interbank Offered Rate (commonly known as “LIBOR”) as a benchmark rate by 2021. No hard deadline has been...more

LIBOR Set for Elimination in 2021

by Stinson Leonard Street on

The London Interbank Offered Rate (LIBOR), the interest rate tied to trillions of dollars in loans and other financial products, will be eliminated by the end of 2021. British regulators announced the timeline on Thursday,...more

FCA announces end to LIBOR in 2021: what next for loan contracts?

by Dentons on

On 27 July 2017, Andrew Bailey, the CEO of the Financial Conduct Authority (FCA), announced in a speech at Bloomberg that LIBOR is to be phased out by 2021. This note considers what might replace LIBOR, and how this...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The DOJ is dismissing charges against former JPMorgan employees allegedly mixed up in the London Whale trading scandal that cost JPM more than $6 billion....more

DOJ Settlement Looks to Set New Benchmarks for Suspicious Order Monitoring

by Ropes & Gray LLP on

This week, the U.S. Department of Justice and Drug Enforcement Administration announced a $35 million settlement with a major pharmaceutical manufacturer to resolve alleged failures to monitor and report suspicious orders for...more

New Broad Treasuries Repo Rate “Best Practice” Benchmark

by Bryan Cave on

On June 22, the Alternative Reference Rates Committee (the “ARRC”) identified a broad Treasuries repo financing rate (the “Broad Treasuries Financing Rate”) that, according to the ARRC, in its consensus view represents best...more

Foreign Investment Reporting to the United States: In-Bound Investment into the United States Specific Survey Report Forms 5-Year...

by McNair Law Firm, P.A. on

The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts seven (7) mandatory surveys to collect information on direct investment. These seven surveys consist of an initial survey for any new in-bound...more

Funds Talk: May 2017 - Securitization Rules Offer Differing Definitions of ‘U.S. Person’

With the long-awaited U.S. rules requiring a level of risk retention in securitizations recently going into effect, an added wrinkle has been created by a slight difference in how “U.S. person” is defined in different...more

CY 2018 Medicare Advantage Final Call Letter

The most recent MA Call Letter, “Announcement of Calendar Year (CY) 2018 Medicare Advantage Capitation Rates and Medicare Advantage and Part D Payment Policies and Final Call Letter and Request for Information” (Call Letter)...more

Financial Regulatory Agenda for 2017 and onwards

by DLA Piper on

We bring to you the Financial Regulatory Agenda for 2017 and onwards in the Netherlands and in Europe. Download and keep up to date with the most important dates. Please see full Calendar below for more information....more

OFCCP Announces New Veteran Hiring Benchmark

The OFCCP has announced its 2017 Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) Benchmark. The new benchmark is 6.7%, slightly lower than the previous year’s 6.9% benchmark...more

Code of Conduct Week: Part III – Design of Your Code of Conduct

by Thomas Fox on

Today I continue my Code of Conduct exploration with Eric Morehead, Principal of Morehead Compliance Consulting. After having reviewed the legal requirement and business purpose in Part I, the structure and form of your Code...more

Hiring Benchmark For Protected Veterans Is Reduced Again

The Office of Federal Contract Compliance Programs announced that the annual hiring benchmark under the Vietnam Era Veterans’ Readjustment Assistance Act has been lowered from 6.9 percent to 6.7 percent. This percentage...more

Bridging the Week - April 2017

Price Protection Is Price Protection Is Price Protection – Unless It’s FCM Activity Says CFTC: Davisco Foods International, Inc., an international cheese and food ingredient company headquartered in Le Sueur, Minnesota,...more

OFCCP Announces 2017 Veterans Hiring Benchmark for Federal Contractors

by Littler on

On March 31, 2017, the Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) updated its Annual Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) Benchmark Database to reflect a new hiring...more

Veteran Hiring Benchmark Reduced – Again

by Jackson Lewis P.C. on

OFCCP has released its revised VEVRAA hiring benchmark for 2017. The agency has lowered the benchmark to 6.7 percent, down from the previous 6.9 percent mark....more

For the First Time Since 2011 Case Closure Time for Employee Hotline Reports Is Down

by NAVEX Global on

Case closure times on employee hotline reports improved last year—one of the most promising findings in NAVEX Global’s 2017 Hotline Benchmark Report. The four-day drop in median closure time indicated in the 2016 report halts...more

The Empire (State) Strikes Back: Six Highlights of New York’s New Cybersecurity Regulations for Financial Institutions

by Poyner Spruill LLP on

The New York Department of Financial Services (NYDFS)’s finalized Cybersecurity Requirements for Financial Services Companies (“regulations”), went into effect on March 1, 2017. NYDFS has provided a 6 month safe harbor to...more

Why You Shouldn’t Relax on Pretaliation—Even if Policymakers Do

by NAVEX Global on

About two years ago, the Securities and Exchange Commission (SEC) made history when it brought the first “pretaliation” whistleblower enforcement action against KBR Inc., a technology and engineering firm in Houston. The...more

UK Regulator Publishes Proposals on Pillar 2A Capital Framework

by Shearman & Sterling LLP on

The Prudential Regulation Authority launched a consultation on proposed changes to the Pillar 2A capital framework. The Pillar 2A framework is effectively a layer of regulatory capital beyond standard requirements based on...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

RBS has agreed to pay $85 million to the CFTC to resolve allegations that its traders “manipulated the ISDAfix benchmark rate over a period of five years to benefit the bank’s derivatives positions”....more

Our Approach to Culture Assessments

by NAVEX Global on

In order for a business conduct and compliance programme to be successful, it must be firmly rooted and supported by company values that are reflected in a strong corporate culture. But even in the best companies, subcultures...more

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