This webinar will help investment advisers prepare for the phase-out of LIBOR in light of the challenges presented by the ongoing coronavirus crisis. It will focus on adoption of other reference rates such as the U.S. Secured Overnight Financing Rate (SOFR) as a benchmark for variable interest rate-related products, and also discuss the inclusion by the SEC’s Office of Compliance Inspections and Examinations of LIBOR transition readiness in its list of priorities for 2020. This webinar will address:
- Developments in transitioning from LIBOR to suitable alternatives;
- Implications of Freddie Mac and Fannie Mae acquisitions of LIBOR adjustable rate mortgages ceasing by December 31, 2020;
- Fallback language that written loan obligations will need when LIBOR is no longer available; and
- Discontinuation of investments reflecting LIBOR or using the LIBOR benchmark for interest payments.
Thomas V. D'Ambrosio, Partner, Morgan Lewis & Bockius LLP, New York office, concentrates his practice on structured and complex derivative transactions, including related insolvency and regulatory issues. His clients include Fortune 500 corporations, private companies, investment managers, hedge funds, financial institutions, pension funds, and high net-worth individuals. He actively represents clients on LIBOR reform and Dodd–Frank derivative reform. Thomas received his B.A., magna cum laude, from Amherst College, and received his law degree, cum laude, from Cornell Law School.
Paul D. Glenn is Special Counsel for the Investment Adviser Association. Previously, he worked for 12 years at the U.S. Securities and Exchange Commission as a trial attorney and special counsel in the Division of Enforcement and the Office of General Counsel, respectively. He also worked at the Office of the Comptroller of the Currency (OTS), U.S. Treasury, as Deputy Chief Counsel and Special Counsel. Mr. Glenn also served as Vice President and Director of Compliance for PNC Bank N.A. in Washington, DC and WashingtonFirstBank N.A. in Reston, VA. He holds an LL.M from Georgetown University Law Center and his J.D. and B.A. from Case Western Reserve University. He holds an honorary doctor of laws degree from Nyack College.
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For questions regarding this webinar, contact the IAA at (202) 293-4222 or email email@example.com.