As both lenders and borrowers in the financial industry are well aware, the Financial Conduct Authority (FCA) of the United Kingdom publicly announced in 2017 that it would no longer compel financial institutions comprising...more
8/18/2020
/ Alternative Reference Rates Committee (ARRC) ,
Banks ,
Benchmarks ,
Borrowers ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Interest Rates ,
Lenders ,
Libor ,
Secured Overnight Funding Rate (SOFR) ,
Transitional Arrangements ,
UK
On May 11, 2016, the Department of Treasury, Financial Crimes Enforcement Network (FinCEN) published its final rule (81 FR 29398) on required “know your customer” due diligence procedures (Rule). The Rule established a...more
At its meeting on March 1, 2017, the United States Securities and Exchange Commission (SEC) voted to formally propose and publish for comment amendments to Rule 15c2-12 to add two additional disclosure events to written...more