SEC Staff Issues Statement on LIBOR Transition

The SEC staff has issued a statement on the forthcoming “transition away from LIBOR as a reference rate for a number of different types of investments, including securities.”

Specifically, the staff statement reminds “investment professionals . . . of their obligations when recommending LIBOR-linked securities . . . and, as applicable, investment strategy recommendations involving other LIBOR-linked investments such as interest rate swaps, municipal securities, or securitizations.”