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Overview:

The concurrent LIBOR transition activities remain to be a major issue for global financial institutions. Recently, the Alternative Reference Rates Committee (ARRC) released a consultation seeking comments intended as part of its fallback provision recommendations for cash products referencing LIBOR. This, along with the other trends and developments that are anticipated to arise, continues to cloud the current legal climate.

With the impending risks and pressures from regulatory agencies, financial entities need to develop well-established preparation and compliance plans that will help them in this changing landscape. It is of paramount importance that companies and their counsel keep up with the updates and developments in order to effectively protect their businesses and prevent risk issues.

In this LIVE Webcast, finance lawyers Olivier Favre (Schellenberg Wittmer Ltd) and Les Jacobowitz (Arent Fox)  will present an in-depth analysis of the current trends and developments surrounding LIBOR transition. Speakers will also offer best practices in addressing the emerging legal issues in light of the recent developments.

Some of the major topics that will be covered in this course are:

  • End of IBORs (State of Play)
  • Trading Risk Free Rates
  • Fallbacks for LIBOR and Documentation Solutions for Fallbacks (Derivatives Market)
  • LIBOR, SOFR, and Transition in a Time of Uncertainty
  • General Implications of Swap Transactions
  • Practical Roadblocks to LIBOR Transition
  • SOFR Specific Issues
  • Legacy Issues
  • Proposed NY Legislation Analysis re: Transition and Potential Resultant Litigation

Credit:

Course Level: Intermediate

 

Advance Preparation: Print and review course materials

 

Method of Presentation: On-demand Webcast (CLE)

 

Prerequisite: General knowledge of the London Interbank Offered Rate (LIBOR)

 

Course Code: 149087

 

NY Category of CLE Credit: Areas of Professional Practice

 

Total Credits: 1.5 CLE


CLE State Requirements:

https://knowledgewebcasts.com/cle-state-requirements/

Speaker Panel:

Olivier Favre, Partner
Schellenberg Wittmer Ltd

Olivier Favre is a Partner in Schellenberg Wittmer’s Banking and Finance group. Olivier focuses on derivatives, structured finance and capital markets transactions, and advises clients on financial services, securities, commodities, fund, insurance and reinsurance regulation. He also advises clients on financing and capital markets transactions and on legal fintech solutions.

Olivier recently advised on the implementation of fallback clauses for derivatives contracts referencing LIBOR benchmarks and on documentation to exchange initial margin for uncleared OTC derivatives transactions. Olivier recently prepared the netting opinion published by the ISDA for international financial institutions set up in Switzerland.

Olivier obtained a doctorate in law from the University of Zurich (Dr. iur, 2003) and is a graduate of Harvard Law School (LL.M., 2004).

Les Jacobowitz, Partner
Arent Fox

Les has over 30 years of experience representing issuers, borrowers (including not-for-profits), governmental entities, underwriters, and financial institutions in domestic and international transactions. He has provided counsel on deals involving $25 billion or more, as well as restructurings and workouts of an additional $41 billion. He has worked with governmental entities, private companies, banks, investment banks and funds in all aspects of financing, including the lending, securitization, real estate, public finance, not-for-profit, health care, restructuring, energy & environment, and infrastructure & privatization financing areas and related litigation. He is also experienced in financings involving asset-backed securities, collateralized debt obligations, collateralized loan obligations, and commercial mortgage-backed securities, representing issuers, investment banks, funds, liquidity banks, and credit enhancers. Learn more here.

Agenda:

SEGMENT 1: Dr. Olivier FavrePartner Schellenberg Wittmer Ltd

  • End of IBORs (state of play)
  • Trading risk free rates
  • Fallbacks for LIBOR and documentation solutions for fallbacks (derivatives market)

SEGMENT 2: Les JacobowitzPartner Arent Fox

  • LIBOR, SOFR, and Transition in a Time of Uncertainty
  • General implications of swap transactions
  • Practical roadblocks to LIBOR transition
  • SOFR specific issues
  • Legacy issues
  • Proposed NY legislation analysis re: transition and potential resultant litigation

Date & Time:

Wednesday, September 23, 2020

12:00 pm to 1:30 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Chief Financial Officers
  • Banking and Finance Lawyers
  • Chief Credit Officers
  • Chief Lending Officers
  • Chief Accounting Officers
  • Loan Officers and Managers
  • Chief Risk Officers
  • Chief Compliance
  • In-house Counsel
  • Banking and Finance Executives
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SPEAKERS

Olivier FavrePartner
Schellenberg Wittmer Ltd
Les JacobowitzPartner
Arent Fox

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