Publication
What are the safety and employment issues for consideration regarding the vaccine?
There a number of safety and employment issues for consideration regarding the vaccines. These issues primarily arise under work health and safety laws.
LIBOR transition - are you ready?
The transition from LIBOR to alternative risk free rates (RFRs) represents one of the biggest changes to the financial services industry, including those providing trust and agency services. There is increasing pressure on market participants from global regulators to take action to address LIBOR transition in both new and legacy transactions. Given the volume of product and processes affected, LIBOR transition will entail considerable work and risk.
As a result of regulator pressure, LIBOR and other benchmark rates are likely to be restructured or abolished by the end of 2021. We want to keep you up to date with key regulatory and industry developments and provide practical tools to help you navigate the challenges the reforms present.
This briefing considers the issues arising from LIBOR transition for administrative agents, collateral agents, trustees, intermediaries and other financial institutions to help you find a solution.
The team tracks financial services regulatory developments. A sample of IBOR updates over the past month includes:
United States
- CFPB addresses elimination of LIBOR in consumer credit transactions
- ARRC 2020 Best Practices for Completing the Transition from LIBOR
- ARRC’s further consultation on spread adjustment methodologies and advice on the SOFR Index
United Kingdom
- Supporting Risk-Free Rate transition through the provision of compounded SONIA
- FMSB publishes a Spotlight Review on navigating conduct risks in LIBOR transition
- RFRWG paper on the identification of tough legacy issues
- The Prudential Regulation Authority publish statement on prioritization in light of COVID-19
Other regions
Contacts
Recent publications
Publication
Australia’s Foreign Relations (State and Territory Arrangements) Act 2020: Are you ready?
Back in October 2020, we highlighted the Australia’s Foreign Relations (State and Territory) Arrangements Bill 2020 and summarised how it would impact governments and other bodies such as public universities, including some of the practical considerations that might need to be considered in dealing with foreign government entities.
Publication
UN Report on Climate Litigation Released
In January, the United Nations Environment Programme (UNEP) published a summary of the status and trends in climate change litigation, in cooperation with the Sabin Center for Climate Change Law titled, ‘Global Climate Litigation Report: 2020 Status Review’ (the UNEP Report).
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