Financial Services Professionals Should View LIBOR Transition With ‘Urgency’
Stephen Newman, a partner in Stroock’s Financial Services Litigation, Regulation and Enforcement Group, spoke with Compliance Week on the upcoming LIBOR transition and related Securities and Exchange Commission guidance.
LIBOR, the London Interbank Offered Rate, is “used extensively as a benchmark to determine lending terms on products ubiquitous to U.S. markets,” including corporate and municipal bonds and many derivatives.
Stephen expressed his surprise the issue hasn’t been considered with the urgency it warrants, particularly in financial services, where it is “most persuasive.”
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