While a welcome development for parties to derivatives transactions generally, the launch of ISDA’s robust benchmark fallbacks may not be the most appropriate solution for IBOR cessation in finance-linked hedging transactions...more
As the title suggests, U.S. LIBOR (LIBOR) is going away, with official announcements expected as soon as year-end 2020 of LIBOR’s December 31, 2021 demise. The end of LIBOR will be replete with a plethora of risks for banks,...more
The Court of Appeal has held that banks do not owe a duty of care in tort to their customers when carrying out a swaps misselling review required by the banks’ agreement with the Financial Conduct Authority (“FCA”). The...more