On May 9, the Commodity Futures Trading Commission (CFTC) proposed amendments to its swap clearing requirements reflecting the cessation of LIBOR (and other IBORs) and transition to alternative reference rates.
The ICI and twenty-four other trade associations submitted a joint letter to SEC Chair Gensler yesterday expressing serious concern that the Commission is not affording sufficient time for meaningful public input into the rulemaking process.
ICI has filed a comment letter with the Commodity Futures Trading Commission providing feedback on the CFTC's request for information and comment (RFI) on amending its swap clearing requirements in light of the upcoming cessation of LIBOR and other IBORs.
The Treasury Department and the Internal Revenue Service (IRS) have issued final regulations regarding the transition from the London Interbank Offered Rate (LIBOR) and other Interbank Offered Rates (IBORs) to an alternative reference rate.
As discussed previously, in November, the Commodity Futures Trading Commission issued a request for information and comment (RFI) on amending its swap clearing requirements in light of the upcoming cessation of LIBOR and other IBORs.
Last December, the SEC adopted new Rule 2a-5 under the Investment Company Act, which addresses the fair valuation responsibilities of funds and their boards and advisers, along with a companion recordkeeping rule.
On December 7, staff of the US Securities and Exchange Commission issued guidance on key LIBOR transition considerations for market participants. The guidance follows the staff's previously issued guidance issued in July 2019.
Global regulators and policymakers continue to address LIBOR transition by market participants. Below, we discuss two recent developments: a UK Financial Conduct Authority (FCA) confirmation of its policy on the use synthetic versions of UK sterling and Japanese yen LIBOR when those...
