Macfarlanes and Simmons & Simmons have landed key roles in a process that has seen NYSE Euronext take over from the British Banker's Association (BBA) as administrator for scandal-hit Libor. Simmons retained its role as legal adviser to the committee selecting an administrator for the London interbank offered rate. The BBA approved the government-backed Hogg Tendering Advisory Committee’s recommendation for NYSE Euronext to oversee Libor yesterday (9 July), which is set to come into effect in early 2014.
July 10, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Simmons & Simmons and Macfarlanes have played key roles in an agreement that has seen NYSE Euronext take over the administration of Libor from the British Banker’s Association (BBA).
Simmons advised the Hogg Tendering Advisory Committee, which was charged with selecting a Libor administrator following much controversy over the bank interest rate during the past year.
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