On October 1, 2020, the U.S. Department of Justice’s (DOJ) Antitrust Division announced that it had completed its review of ISDA’s proposed amendments to its standard documentation to deal with IBOR discontinuation (by way of...more
The London Court of International Arbitration (LCIA) released an update to its arbitration rules (the “Rules”), with the changes set to take effect from 1 October 2020 and the stated intention of making the arbitral process...more
On 15 September 2020, the High Court handed down judgment in The Financial Conduct Authority v Arch and Others, which determined issues of principle relating to business interruption claims arising from the COVID-19 outbreak....more
To assist businesses dealing with the economic impact of the coronavirus (COVID-19) pandemic, on March 28, 2020, the UK government followed in the footsteps of countries including Spain, Germany and Australia and announced...more
The emergence of the novel coronavirus (COVID-19) as a pandemic has caused global stock markets to plummet, and has seen countries around the world take measures to try to stop its spread, including the imposition of travel...more
With the announcement by the Financial Conduct Authority that the London Interbank Offered Rate (LIBOR) may cease to exist, the financial markets are facing a major upheaval in this respect. Market participants, financial...more
In a letter to the International Swaps and Derivatives Association (ISDA) on 20 January 2020, the Financial Conduct Authority (FCA) confirmed the possibility that LIBOR may continue to be published for a short period after...more
On 27 July 2017, the chief executive of the Financial Conduct Authority, Andrew Bailey, announced that the London Interbank Offered Rate (LIBOR) may not continue to be available after 2021. Since this announcement, a number...more