Thomson Reuters Session 1: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?
In the latest anti-suit case relating to Russia, the English High Court has made permanent an anti-suit injunction (ASI) and anti-enforcement injunction (AEI) preventing a Russian bank from pursuing litigation in Russia in...more
Everybody knows that, logically, banks can fail. Few expect them to. Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on 10 March 2023, and the Federal Deposit Insurance Corporation (FDIC) appointed as...more
FCA and PRA on passporting in and out of Gibraltar after the transition period - On 31 December, the FCA published a new webpage on Gibraltar passporting arrangements, with the PRA publishing its respective webpage on 4...more
On November 30, 2020, Intercontinental Exchange, Inc. (ICE) announced that the ICE Benchmark Administration Limited (IBA), a wholly-owned subsidiary of ICE and the administrator of LIBOR, will consult in early December 2020...more
The International Swaps and Derivatives Association has written to the Co-Chairs of the Financial Stability Board Official Sector Steering Group seeking input on its proposed timing for the launch of its IBOR Fallbacks...more
The Benchmarks Regulation (BMR) – or to give it its long name, the Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds ((EU) 2016/1011) –...more
The endorsement of Europe's largest asset management association should promote use of the new 2002 ISDA Master Agreement (French law) on the European OTC derivatives market....more
A recent decision reminds credit swap market participants that thorough knowledge of the documentation and definitions relating to a particular credit default swap is critical....more
Six months have now passed since publication of the Dechert OnPoint, LIBOR – Where Are We Now?, and in that period progress on benchmark reform and the development of alternative risk-free-rates (RFRs) has gathered pace. At a...more
Discussion of LIBOR was catapulted back into the spotlight last summer when Andrew Bailey, Chief Executive of the UK’s Financial Conduct Authority (FCA), gave a speech1 on the reference rate’s future. The key take-away was...more
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
On 15 June 2017 the English Court of Appeal handed down a significant judgment in Dexia Crediop S.p.A. v Comune di Prato. The Court’s unanimous judgment confirmed that the nature of an agreement made pursuant to an ISDA...more
On July 13, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA EMIR Classification Letter (the Classification Letter), a form of letter that may be used by market participants managing their...more
EBA 2014 Annual Report - On June 15, 2015, the European Banking Authority (EBA) published its annual report for 2014. The report provides an overview of the EBA's activities and achievements in 2014, including...more