The new year is here and with it two important developments in the derivatives markets for nonswap dealer clients to consider.
Much has been written about the demise of Libor as the mostly widely adopted interest reference rate for financial contracts generally and where interest is to be paid in Sterling in particular.
Users of FBF Master Agreements will benefit from new sets of documentation to facilitate compliance with EU Benchmarks Regulation.
The new listings contributed towards a 5% growth in the total number of listings on the market during the year. There were 2,995 securities listed on Guernsey-headquartered TISE at the end of...
Shearman & Sterling LLP
Borsa Italiana S.p.A., the managing company of the Italian stock exchange, amended its market rules ("Rules") and related instructions. In particular, based on resolution No. 21018,...
The Government of Jersey is currently consulting on the draft Financial Services (Disclosure and Provision of Information) (Jersey) Law 20- (Draft Law).
On 18 October 2019, the Taxation (Companies – Economic Substance) (Amendment) (Jersey) Law 2019 was registered in the Royal Court and came into force from 1 January 2019.
Schoenherr Attorneys at Law
According to the Public Debt Act (Zakon o javnom dugu) of the Republic of Serbia, the Minister of Finance manages the country's public debt by :
In the long term, the move from LIBOR to alternative risk-free rates (RFRs) should increase market integrity.
After consultation with their members, AFME, FIA, ICMA, ISLA and ISDA have collectively released the Master Regulatory Reporting Agreement (MRRA).
We are delighted to send you our latest e-newsletter, setting out recent regulatory developments of interest to financial institutions.
This article was originally published in ICMA Quarterly Magazine, 10 October 2019 and is reproduced with permission from the publisher.
The London Interbank Offered Rate ("LIBOR") is expected to cease after the end of 2021. In particular, LIBOR-linked loans may not be offered after Q3 2020.
Cleary Gottlieb Steen & Hamilton LLP
On January 16, 2020, the Bank of England, the UK Financial Conduct Authority and the Working Group on Sterling Risk-Free Reference Rates published a set of documents outlining priorities and milestones for 2020 on LIBOR transition.
Herbert Smith Freehills
In the UK it has long been a policy objective of regulators to ensure that holders of significant interests in securities are required to disclose those interests.
Shearman & Sterling LLP
Partner Philip Stopford and associate Maria Cornilsen (both London-Finance) authored an article titled "Anti-Net Short Provisions: emergence and migration to the European market."
The long awaited thematic review of custody arrangements (Review) has now been completed and FMA have released their summary findings...
To ensure continuity, an interim Chief Executive of the
Financial Conduct Authority (FCA)
Ogier's global equity capital markets team has significant experience in advising on the listings of investment vehicles, operating companies and special purpose acquisition companies (SPACs)...
Ogier's global equity capital markets team has significant experience in advising on the listings of both operating companies and special purpose acquisition companies (SPACs) on NYSE and NASDAQ.