UK Financial Services Bill: Amendments to the Benchmarks Regulation to support LIBOR transition
By EsqSocial Corporation 30/10/20
On October 21, 2020, the UK Government introduced the Financial Services Bill (the Bill) to Parliament. The Bill is seen as a vital step towards ensuring the UK’s continued status as a global finance hub in the post-Brexit world, and it also introduces the UK Government’s legislative fix for LIBOR-referencing contracts that face insurmountable barriers in the transition from LIBOR (“tough legacy contracts”), as announced in June and discussed in our earlier update....
By: McGuireWoods LLP