The Bank of England and the UK Financial Conduct Authority demanded "clear evidence" that firms are preparing for the 2020 market-wide transition from LIBOR.
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CFTC Division of Swap Dealer and Intermediary Oversight Director Joshua B. Sterling highlighted a number of regulatory issues for swap dealers being considered at the CFTC.
The CFTC Market Risk Advisory Committee addressed LIBOR reform initiatives and efforts to develop the Secured Overnight Financing Rate as a viable alternative rate.
A swap dealer agreed to pay $65 million to settle CFTC charges of attempted manipulation of the U.S. Dollar ISDAFIX.
A multinational bank agreed to pay a total of over $1 billion to resolve charges related to alleged (i) bribery of Libyan officials and (ii) manipulation of certain benchmark interest rates.