Returning to the workplace and future of work
A global checklist on the recent development of strategies, tools and frameworks designed to assist returning employees to the workplace.
On 27 July 2017, Andrew Bailey, the Chief Executive of the UK Financial Conduct Authority (the FCA) announced that the FCA would no longer compel or persuade banks to make submissions to LIBOR as from the end of 2021.
LIBOR was originally a survey- based benchmark, compiled by panels of banks answering the question “at what rate could you borrow funds were you to do so by asking for and then accepting interbank offers in a reasonable market size just prior to 11am?” However, in the wake of the manipulation scandal, regulators found that there were very few transactions taking place to support some of the currencies and tenors for which LIBOR was published. As such, LIBOR submissions were largely based upon expert judgement rather than transaction data. This led to concerns that LIBOR was unrepresentative and vulnerable to potential manipulation which in turn culminated in a number of criminal actions brought in various jurisdictions around the world.
Our briefing note explains everything you need to know about the transition to risk-free rates including key regulatory issues and challenges concerning IBOR transition.
The use of AI to drive efficiency and business improvement has increased significantly in the last five years across multiple sectors.
When it comes to multi-jurisdictional investigations, a key challenge for in-house counsel is to maintain legal privilege. Key documents, data and communications used as part of an internal investigation can be acknowledged as privileged in one jurisdiction but not in another.
© Norton Rose Fulbright LLP 2021