Topic: LIBOR

On July 12, 2019, the Securities and Exchange Commission (“SEC”) published a staff statement[1] encouraging issuers and other market participants to actively manage their transition away from LIBOR[2] and fully disclose the risks they face from the change.  Currently, private-sector banks report the information used in the formulation of LIBOR, but those banks are expected to cease reporting when their current reporting commitment ends in 2021.