SEC Issues Statement on LIBOR Transition

The SEC has issued a statement regarding the expected discontinuation of LIBOR after 2021 and how market participants can manage their transition from LIBOR by evaluating existing contracts, new contracts, and other business risks.

In addition, the statement details guidance from the Division of Corporation Finance, Division of Investment Management, and Division of Trading and Markets, as well as from the Office of the Chief Accountant, on the discontinuation of LIBOR and how registrants can respond to the risks.

For more information, see the press release and statement on the SEC’s Web site.