Regulatory Outlook | 06.24.20
SEC Preps LIBOR Transition Exams
The SEC is planning an exam sweep to assess financial firms’ preparedness for the transition away from LIBOR. The discontinuation of LIBOR, currently expected to occur after 2021, “could have a significant impact on the financial markets and may present a material risk for certain market participants,” including SEC-registered investment advisors, broker-dealers, investment companies, municipal advisors, transfer agents and clearing agencies, the SEC explains in a recent alert. “Preparation for the transition away from LIBOR is essential for minimizing any potential adverse effects associated with LIBOR discontinuation.”
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