February 23, 2018 - As LSTA members likely know, on February 9, 2018, the US Court of Appeals for the DC Circuit ruled in favor of the LSTA, issuing a decision that risk retention does not apply to open-market CLO managers. The reality is this is (almost) the conclusion of an (almost) eight-year process. To mark the occasion, the LSTA developed a color-coded CLO Risk Retention Timeline, which walks through the Legislative, Regulatory and Legal efforts. Click here to see the Timeline.

As noted above we hope we are nearly at the conclusion of the process. However, the government does have the opportunity to appeal. Click here to see the appeal process and timeline. For more information, please contact eganz@lsta.org or mcoffey@lsta.org.

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LIBOR: Hardwired for Success?

On June 30th the ARRC published an updated recommendation for fallback language for syndicated loans (“the 2020 recommendation”).