Finance Insights Autumn 2019

Welcome to the autumn 2019 edition of our semi-annual newsletter for corporate treasurers, chief financial officers and corporate general counsel in which we highlight key topical issues in the financial markets and explore their implications from a corporate perspective.

In this edition, we continue our series on global interest rate reform. The transition away from LIBOR is gaining traction as the focus increasingly shifts towards the practical implementation of new risk-free rates, with signifcant steps being taken across the fnancial markets. Reforms in the euro area have also made signifcant progress, with developments in EURIBOR, €STR and EONIA.

We take a closer look at two topical areas – environmental, social and governance (ESG) issues and blockchain and other distributed ledger technology (DLT). On ESG and climate risk, there is increasing attention on the development of global policies, alongside growth and development in ESG-linked fnancial products. DLT’s development continues as practical applications of this technology materialise, and accordingly contribute to the evolution of fnance and broader digitisation of the economy.

Lastly, we consider the impact of recent and upcoming regulatory change. Three months into the new regime introduced by the Prospectus Regulation, we examine what has changed. We also look at the changes to EMIR introduced in June 2019, and scan ahead to more changes to EMIR taking effect in June 2020.

We hope you fnd this edition helpful in considering the implications of these key developments in practice. We would be pleased to discuss further any queries or comments which any of the articles may raise.

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