FCA updates Q&As on conduct risk during LIBOR transition
Regulatory Updates | 20/11/20
The Financial Conduct Authority (FCA) has updated its questions and answers for firms about conduct risk during LIBOR transition. Additional questions address how firms can fairly address the variation in spread between LIBOR and SONIA when actively transitioning existing customers from LIBOR to alternative rates, and whether LIBOR contracts be converted upon LIBOR cessation or loss of representativeness to Bank Rate plus an appropriate spread, rather than SONIA plus an appropriate spread.
