On 29th September the FCA made a public announcement that in response to the feedback received to their consultation they have decided to require continued publication of the 1– and 6- month synthetic sterling LIBOR settings for a further 3 months until 31st March 2023, after which these settings will permanently cease. Further information regarding the timeline for terminating the 3-month sterling LIBOR setting and whether a synthetic rate will be provided for US dollar LIBOR are still pending.
The IA and its members continue to actively monitor the situation and keep abreast of developments within this space.
FCA Consultation on Improving Equity Secondary Markets
On 16th September the IA submitted its response to the FCA’s consultation paper on improving equity secondary markets. This consultation is the first CP published by the FCA in response to HMT’s Wholesale Markets Review (WMR).