In Europe, the European Benchmark Regulation (‘BMR’) has been the catalyst for major transition from the old regime of benchmarks towards new and alternative reference rates set to transform the finance industry.
It is incredibly difficult for in-house legal teams to manage both business-as-usual support and these regulatory repaperings which can involve negotiating thousands of documents.
It can be hard to work out what is suitable for outsourcing in an in-house legal team. Following these steps will give you a better handle on what work goes where and
Even with the delayed implementation of the last phases, the challenge that lies ahead for initial margin should not be underestimated. Phases 5 and 6 will encompass a large number of different
