News & Analysis as of

Benchmarks

BEA’s BE-12 Benchmark Survey of Foreign Direct Investments in the United States: Implications for US Asset Managers

by Dechert LLP on

Financial services providers that are subsidiaries of a non-U.S. parent (or that have received substantial direct investment from abroad) should evaluate whether they are required to file the Benchmark Survey of Foreign...more

New York Fed’s New Benchmarks May Provide Further Guidance on LIBOR Phase-Out

by Ropes & Gray LLP on

As reported in a previous alert, the UK Financial Conduct Authority (FCA) announced on July 27, 2017 that, by 2021, it intends to replace the London Interbank Offered Rate (LIBOR), the key benchmark rate underlying hundreds...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House has chosen Columbia University economist Richard Clarida as Fed Vice Chair—the number 2 spot at the central bank. Clarida is a “monetary policy scholar” and former Bush II administration Treasury official....more

Transitioning Away from LIBOR: What Is Coming and What Can We Do Now?

by Moore & Van Allen PLLC on

The potential transition away from LIBOR has raised significant concerns in the financial markets, including whether LIBOR will end in 2021, what may replace it, what fallback language should be included in contracts in the...more

3 Key Findings from 2018 Hotline & Incident Management Benchmark Report

by NAVEX Global on

NAVEX Global’s 2018 Hotline & Incident Management Benchmark Report takes anonymized data collected from the world’s largest and most comprehensive database of reports. The report provides expert analysis of data that ethics...more

OFCCP Announces 2018 Veteran Hiring Benchmark

On March 30, 2018, the Office of Federal Contract Compliance Programs (“OFCCP”) released its 2018 Vietnam Era Veterans’ Readjustment Assistance Act (“VEVRAA”) Benchmark. Effective March 31, 2018, the new benchmark is 6.4%,...more

Financial Services Quarterly Report - First Quarter 2018: LIBOR – Where Are We Now?

by Dechert LLP on

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

OFCCP Lowers Hiring Benchmark for Veteran Affirmative Action Plans

by Littler on

On March 30, 2018, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) announced that it was lowering the Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) hiring benchmark to 6.4...more

OFCCP Announces Lower Annual VEVRAA Hiring Benchmark for 2018

On March 30, 2018, the Office of Federal Contract Compliance Programs (OFCCP) announced the Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) hiring benchmark for 2018. Effective March 31, 2018, the hiring benchmark...more

UK Financial Conduct Authority Outlines its Policy for Compelling Banks to Contribute to LIBOR

by Shearman & Sterling LLP on

The U.K. Financial Conduct Authority has published a policy statement explaining the methodology the FCA would expect to use if it needed to compel banks to contribute to LIBOR (the London Interbank Offered Rate). LIBOR,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

After almost a year of fending off a hostile takeover bid from rival PPG Industries, Dutch paint and chemical giant Akzo Nobel has agreed to sell its specialty chemicals unit to PE firm Carlyle Group for $12.5 billion in a...more

Corporate Human Rights Benchmark Releases 2018 Methodology

The Corporate Human Rights Benchmark (“CHRB”) has released its 2018 research methodology, reflecting revisions to the 2016 methodology used to produce CHRB’s 2017 inaugural benchmarking report....more

UK Benchmarks Legislation Amended

by Shearman & Sterling LLP on

The Financial Services and Markets Act 2000 (Benchmarks) (Amendment) Regulations 2018 have been published, to correct a drafting issue in the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018, which are...more

Asset Management Regulatory Roundup - February 2018 - Issue 4

by Dechert LLP on

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of an FCA report on algorithmic trading; the publication of the FSMA (Benchmarks)...more

Orrick's Financial Industry Week In Review

SEC OCIE Examinations Announces 2018 Examination Priorities - On February 7, the Securities and Exchange Commission's ("SEC") Office of Compliance Inspections and Examinations ("OCIE") announced its 2018 examination...more

Financial Regulatory Developments Focus - February 2018 #2

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Are you prepared for the future of LIBOR?

by Hellmuth & Johnson PLLC on

The Financial Conduct Authority (“FCA”) in the UK has announced that it will no longer require banks to submit London Interbank Offered Rate (“LIBOR”) quotes after 2021. This change requires careful review and action for...more

EONIA Review Shelved

by Shearman & Sterling LLP on

The administrator of the Euro OverNight Index Average, the European Money Markets Institute, has announced its decision not to pursue a thorough review of the EONIA benchmark....more

LIBOR Phaseout: What Happened and What's Next?

by Baker Donelson on

The Financial Conduct Authority (FCA) of the United Kingdom plans to phase out the London Interbank Offered Rate (LIBOR) by the end of 2021. LIBOR is the benchmark rate that many banks use to set interest rates in loan...more

The Future of Libor Implications for the Loan Market

by Shearman & Sterling LLP on

The London Interbank Offered Rate (ICE LIBOR, often referred to colloquially as Libor) is an important interest rate benchmark. It is currently set with reference to the rate at which certain large and financially sound Libor...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed held its last Open Markets Committee meeting under outgoing Chair Yellen, and it agreed to hold the benchmark rate in a range between 1.25% and 1.5%. Here’s the lowdown....more

CFTC Updates on Virtual Currency Regulation, Alternatives to Libor and Fallout From Brexit

In 2017, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo made clear he will strive to improve, not abolish, many reforms the CFTC adopted to implement the Dodd-Frank Act’s mandate for new...more

What Do In-House Counsel Need to Know About Business Human Rights Benchmarking?

by King & Spalding on

Business Compliance with Human Rights - The subject of compliance by businesses (from small to multinational) with human rights norms is in the news every single day. Following the endorsement by the UN Human Rights...more

Asset Management Regulatory Roundup - January 2018 - Issue 2

by Dechert LLP on

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the publication of delegated regulations under the Benchmark Regulation; a call for...more

The Future of LIBOR

A London seminar considers what may become of the long-time benchmark interest rate as it faces possible obsolescence—and what might take its place. Although the 2021 deadline, after which LIBOR will not be supported by...more

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