LIBOR transition: FCA statement and Q&As on conduct risk
The FCA has published a webpage on conduct risk during LIBOR transition, including some Q&As for firms.
The FCA summarises the impact of LIBOR transition for firms and, in this context, provides Q&As for firms, relating to:
• governance and accountability;
• replacing LIBOR with alternative rates in existing contracts and products, and treating customers fairly;
• offering new products with risk-free rates or alternative rates;
• communicating with customers about LIBOR and alternative rates and products; and
• firms investing on customers' behalf and LIBOR transition.