Publication
This year’s Africa Energy Forum presents a unique opportunity for African collaboration
In the rural village of Gwanda, Zimbabwe, a mother walks several kilometres each day to find firewood so she can cook for her children.
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.
Recent publications
Publication
The future of regional power trade in Southern Africa
Southern Africa is a key focus of attention at the present time, as it faces a perfect storm of an energy emergency due to hydropower generation being severely impacted by reduced water levels due to droughts whilst the demand of its regional miners for clean baseload power rapidly accelerates.
Subscribe and stay up to date with the latest legal news, information and events . . .