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The Financial Conduct Authority is the conduct regulator for 58,000 financial services firms and financial markets in the UK and the prudential regulator for …See more
Will pre-cessation fallbacks (those that trigger on unrepresentativeness) still operate if the FCA permits wide legacy use of synthetic sterling and yen LIBOR?
A:
It is important that market participants understand how their contract terms interact with the winding down of a critical benchmark. Firms should seek their own legal advice on this.