July 27, 2020

LIBOR Transition Part 2: The SEC OCIE Examination: A practical guide to achieving "LIBOR transition preparedness"


External speaker: Heidi Rudolph, Managing Director, Morae

On June 18, 2020, the Office of Compliance, Inspections and Examinations (“OCIE”) of the US Securities and Exchange Commission announced in a risk alert that it will conduct examinations of SEC-registered investment advisers, broker-dealers and investment companies (“registrants”), among others, to assess their preparedness for LIBOR’s expected discontinuation.

In a clear warning to registrants regarding LIBOR preparedness, OCIE stated the following in the Risk Alert:

“Preparation for the transition away from LIBOR is essential for minimizing any potential adverse effects associated with LIBOR discontinuation. The risks associated with this discontinuation and transition will be exacerbated if the work necessary to effect an orderly transition to an alternative reference rate is not completed in a timely manner.”

In the latest of our series of webinars on LIBOR transition, join Mayer Brown’s Marlon Paz and Leslie Cruz and Morae’s Heidi Rudolph as they discuss their views on the focus of the OCIE announcement, specific and practical actions that affected organisations need to take to achieve “preparedness” and how organisations can start to build a programmatic approach to responding to the OCIE’s announcement.

You can listen to the recording here >>
Running time: 31:47 minutes

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