Shari Brandt presents "Benchmarking LIBOR: A Controversial History, An Uncertain Future" webcast

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April 30, 2014

Richards Kibbe & Orbe LLP partner Shari Brandt presented "Benchmarking LIBOR: A Controversial History, An Uncertain Future," a webcast hosted by the LSTA.

Investigations into the alleged manipulation of the London Interbank Offered Rate (LIBOR) have resulted in fines of close to $6 billion against several financial institutions. Various settlements with the government and other regulators have revealed that traders attempted to manipulate or actually manipulated their bank's LIBOR submissions for a number of currencies over the course of many years.

This CLE discussion reviewed:

  • The allegations of manipulation and how flaws in the LIBOR process permitted the manipulation to take place;
  • How the conduct was finally discovered and investigated;
  • What was found by the various regulators;
  • Recommendations from The Wheatley Review on how to move forward;
  • How the LIBOR submission process has changed; and
  • Repercussions on financial benchmarks in general.

Click here to read "Benchmarking LIBOR: A Controversial History, An Uncertain Future," a memorandum by Jon Kibbe and Shari A. Brandt.