LIBOR Transition Conduct Risk

Today there is an estimated 350 trillion dollars’ worth of worldwide contracts with interest rates tied to the Bank of England’s London Interbank Offered Rate (LIBOR). Following the rates manipulation scandal - which came to light in 2012 after going undetected for almost a decade - the benchmark interest rate is currently under intense scrutiny from the regulators with the Bank of England and Financial Conduct Authority announcing they would not support LIBOR beyond the end of 2021, at which point alternative risk-free-rates are hoped to have been phased in.

As a result, Financial Institutions around the world are now looking at ways to protect themselves from the imminent conduct risks associated with transitioning the billions of legacy LIBOR based products onto alternative RFRs.

The LIBOR Transition Conduct Risk Symposium will be the first event ever which is dedicated specifically to identifying and addressing the conduct risks associated with the LIBOR transition, across the 3 Lines of Defence. With risk of misconduct coming from various angles, including: unclear client communications; insufficient product governance; misselling and uneducated sales of contracts; conflicts of interest and continued market abuse - the reputational, legal and financial repercussions have the potential to be catastrophic, not only for the banks themselves, but also for their clients and the entire world economy.

The LIBOR Transition Conduct Risk Symposium App allows delegates to see the agenda, take part in interactive polls and message other delegates. You can only access the app if you are a registered delegate the symposium.