The U.S. House Committee on Financial Services voted to advance the "Adjustable Interest Rate (LIBOR) Act of 2021," which would establish a process for replacing LIBOR with the Secured Overnight Financing Rate in financial contracts that do not contain sufficient fallback provisions upon the cessation of LIBOR.
News & Insights
22388 News Results
Senator Elizabeth Warren (D-MA) urged the Financial Stability Oversight Council to address risks to the U.S. financial system arising from cryptocurrencies.
The Alternative Reference Rates Committee formally recommended CME Group's forward-looking Secured Overnight Financing Rate term rates following the changes in trading conventions on July 26, 2021.
A firm providing execution and routing services to broker-dealers settled FINRA and NYSE Arca charges for failing to establish, document and maintain a supervisory system, and for certification failures regarding the firm's regulatory risk management controls.
In remarks on a webinar sponsored by Principles for Responsible Investment, SEC Chair Gary Gensler reported that he directed SEC staff to develop a rule proposal on mandatory climate risk disclosure by the end of 2021.