After employing the London Interbank Offered Rate (LIBOR) as its primary interest rate benchmark for more than 35 years, the financial services industry is preparing for a critical transition. The United Kingdom’s Financial Conduct Authority is expected to cease publication of LIBOR by Dec. 31, 2021. This pending action is pushing financial institutions to plan and implement modifications as they phase out LIBOR and shift to an alternative reference rate – with legal teams providing essential guidance and expertise along the way.

In this episode of The Robert Half Legal Report, host Charles Volkert, senior district president of Robert Half Legal, is joined by Doug Wilbert, a managing director with Protiviti, to discuss significant legal implications inherent in the benchmark transition. They explore the operational, legal and compliance challenges of replacing LIBOR with an alternative reference rate – and how legal teams are needed to make crucial impact assessments, identify and manage legal and contractual risks, conduct litigation and regulatory reviews, and more.

Robert Half is not a law firm and does not provide legal representation. Robert Half project attorneys do not constitute a law firm among themselves.