News analysis on how banks and asset managers are implementing conduct-focused rules, including investor protection under Mifid II’s product governance frameworks and the integrity of Libor.

Best practice: Libor legacy products

Jul 11, 2019

Practice Insight, in consultation with EY, has drafted a product-by-product guide to the risks attached to Libor transitioning, with loans topping the list. Challenges were assessed according to four distinct but interlocking categories: product complexity, infrastructure challenges, client impacts and litigation risk

Mifid costs and charges: why asset managers want more rules

Aug 20, 2019

Buyside sources explain how well-intentioned but ultimately inconsistent rules are creating an uneven playing field and prompting clients to “switch off”. It may also present opportunities for arbitrage

Libor transition: market still divided over lack of term RFRs

Aug 12, 2019

Less sophisticated corporates want term risk-free-rates (RFRs) as soon as possible; but market makers remain unconvinced

Libor transition: the world's largest arbitrage opportunity?

Aug 6, 2019

Market participants are concerned about speculation on the spread difference between alternative rates and their Libor equivalents. There will be winners and losers

Libor transition: Banks tell clients to wake up

Aug 1, 2019

The deadline for shifting all contracts over from Libor to the UK’s replacement Sonia is fast approaching. As one market participant puts it, if you wait until 2021, there aren’t enough lawyers in the world to help

Mifid II research unbundling: “It has changed everything and nothing”

Jul 31, 2019

Buyside firms and IRPs explain that the directive’s stated aim – reducing conflicts of interest – has not quite been achieved. In some areas it’s even had the opposite effect, with the rise of corporate-sponsored research

How derivative compression is easing the Libor transition

Jul 31, 2019

Market participants have found a new way of managing the colossal amount of administration work associated with the transition from Libor: compressing swaps and options contracts

Mifid II accelerates automation of investor services

Jul 24, 2019

The directive’s downward pressure on the sales teams of investment banks is contributing to the rise of a two-tier system with personalisation for 'high-touch' investors, and an automated service for lesser clients, according to banking sources