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DFSA Issues a “Dear SEO Letter” and a Markets Brief on the Transition from Inter Bank Offered Rates to Alternative Reference Rates

24 Sep 2020

The Dubai Financial Services Authority (DFSA) earlier today issued a “Dear SEO Letter” concerning the transition away from the Inter Bank Offered Rates (IBOR) benchmarks, including the London Interbank Offered Rate (LIBOR), to other alternative solutions, also known as Alternative Reference Rates (ARR). The DFSA also issued the Markets Brief No. 22 providing information for Issuers and Reporting Entities of debt securities on prospectus disclosure requirements and continuing obligations relating to the transition from LIBOR.