In Short -
The Situation: Following a string of bankruptcies among virtual currency firms, the New York Department of Financial Services has issued guidance on the practices and procedures it expects from certain...more
Jones Day partner Kim Desmarais discusses the Uniform Law Commission's and American Law Institute’s proposed amendments to the Uniform Commercial Code (UCC), and their potential impact on commercial transactions involving...more
ICE Benchmark Administration Limited ("IBA") upends market expectations by announcing a consultation on an 18-month extension for most tenors of USD LIBOR.
IBA announced on November 30, 2020, that it would launch a market...more
The Development: The Alternative Reference Rates Committee ("ARRC") announced the results of its market consultation on the "spread adjustment" calculation for the LIBOR/SOFR transition on May 6, 2020, but found it necessary...more
The Situation: The Staffs of the Divisions of Corporation Finance, Investment Management and Trading and Markets ("Divisions") of the U.S. Securities and Exchange Commission ("SEC") and its Office of the Chief Accountant...more
7/19/2019
/ Banking Sector ,
Broker-Dealer ,
Corporate Counsel ,
Disclosure Requirements ,
Investment ,
Investment Adviser ,
ISDA ,
Joint Statements ,
Libor ,
Market Participants ,
New Guidance ,
Registration Statement ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Working Groups
Financial institutions around the world are addressing the probable cessation of "LIBOR" interest rates before 2022 by, among other things, developing language designed to substitute an industry-approved successor rate (most...more
The Situation: Financial industries around the world are addressing the probable cessation of LIBOR interest rates before 2022 by, among other things, developing language designed to substitute an industry-approved successor...more