In the second part to the feature with Chris Schell, partner at law firm Davis, Polk, and Wardwell, Schell discusses current and pressing trends along with key issues around which the US regulatory environment is constantly evolving.
A major ongoing event is the transition from Libor to alternative reference rates, which will have a significant impact on the US structured product market, as many currently reference the interest rate index. “Libor has also effectively been used as an underlying reference asset for structured products in addition to structured products that pay an interest rate based on Libor,” said Schell (pictured) . In addition, several proprietary indices that are used as underlying ref
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