Last Thursday, December 10, SFA jointly filed an amicus brief with the Chamber of Commerce, SIFMA, ISDA, BPI, and LSTA, in the case of McCarthy v. Intercontinental Exchange, Inc., in the Northern District of California. The case has significant implications for the LIBOR transition and global financial markets. The plaintiffs in the case requested to bring the publication of the LIBOR benchmark rate to an immediate halt, followed by a request to instead set LIBOR to zero, threatening to disrupt financial transactions all over the world and undermine years of planning for an orderly transition from LIBOR.