His Majesty’s Treasury (HMT) and the Financial Conduct Authority (FCA) have issued publications that seek to expand the application of the United Kingdom (UK) sustainability disclosure requirements (the SDR) and labelling...more
5/29/2024
/ AIFM ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
False Claims Act (FCA) ,
Greenwashing ,
IFRS ,
Opt-In ,
Portfolio Managers ,
Retail Investors ,
Sustainability ,
UK
Last month, the United Kingdom Financial Conduct Authority (FCA) announced that it is considering new procedures under which it would publicly identify firms that are under investigation as soon as the investigation has been...more
4/1/2024
/ Cross-Border ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement ,
Financial Conduct Authority (FCA) ,
FSMA ,
Investigations ,
Notice Requirements ,
Securities and Exchange Commission (SEC) ,
UK ,
Willful Misconduct
Key Points -
-Following a joint Discussion Paper in 2021 issued by the UK Financial Conduct Authority (FCA) and the UK Prudential Regulation Authority (PRA), both regulators have now issued Consultation Papers proposing new...more
10/27/2023
/ Banking Sector ,
Disclosure Requirements ,
Discrimination ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
Rules of conduct ,
UK
The International Sustainability Standards Board (ISSB) published its first sustainability disclosure standards, IFRS S1 and IFRS S2 (Standards), on 26 June 2023 with the aim of improving the disclosure and transparency of...more
On 14 April 2023, the European Commission published its responses1to the questions2raised by the European Supervisory Authorities (ESAs) on a number of areas of uncertainty in the Sustainable Finance Disclosure Regulation...more
The United Kingdom’s Financial Conduct Authority (FCA) has issued proposed rules to establish a U.K. sustainability disclosure regime (SDR) providing a U.K. take on a topic many investment managers have been dealing with in...more
11/8/2022
/ Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Greenwashing ,
Investment Management ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
SFDR ,
Sustainability ,
UK
Who is Now Subject to Climate-Related Financial Disclosures?
Issuers of standard listed equity shares and Global Depositary Receipts (GDRs) will now be required to satisfy certain previously issued climate-related...more
If, as they say, past is prologue, then boards of directors in the United States should follow closely lessons learned by their European and British counterparts when it comes to the potential role sustainable finance plays...more
The SFDR and the Taxonomy Regulation: Key Developments and What Firms Can Expect in the Coming Year -
Almost a year on from the date on which the European Union’s Sustainable Finance Disclosure Regulation (SFDR) came into...more
1/27/2022
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Discussion Draft ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Product Labels ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The Financial Conduct Authority (FCA) has issued a Discussion Paper (DP21/4) (the “DP”) seeking industry participants’ views on the proposed new Sustainability Disclosure Requirements (SDR) and an accompanying sustainability...more
12/9/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Product Labels ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
As we reflect on the 2021 United Nations Climate Change Conference (COP26), it would be remiss not to note that the United Kingdom government announced its intention for the U.K. to be the world’s “first net zero-aligned...more
In this episode, the first in our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at the Sustainable Finance Disclosure Regulation (SFDR) and what it means...more
8/4/2021
/ AIFM ,
Alternative Investment Funds ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Adviser ,
Financial Institutions ,
Financial Services Industry ,
Fund Managers ,
Investment Firms ,
Investment Funds ,
Investment Management ,
Investors ,
MiFID ,
Portfolio Companies ,
SFDR ,
Sustainability ,
Transparency
The UK Financial Conduct Authority (FCA) has issued a consultation paper (the “Consultation Paper”) proposing new disclosure rules relating to diversity and inclusion on the boards and executive committees of listed...more
The Financial Conduct Authority (FCA) has written to the Chairs of Authorised Fund Managers (AFMs) with respect to its expectations on the quality of information provided to investors of investment funds focused on investing...more
The UK Financial Conduct Authority (FCA) has published a “Dear Chair” letter (here) (the “Letter”) setting out its “Guiding principles on design, delivery and disclosure of ESG [environmental, social and governance features]...more
In November 2020, the UK government published “Roadmap” setting out its aims for mandatory climate-related disclosures across the UK economy, in a manner aligned with the recommendations of the Taskforce on Climate-related...more
In this episode, which concludes our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at EU ESG developments and risks and what business should know about...more
7/15/2021
/ Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Services Industry ,
Investors ,
Risk Mitigation ,
SFDR ,
Sustainability ,
Taxonomy
The proposed disclosure rules applicable to UK investment managers have been published for comment by the UK’s Financial Conduct Authority (FCA). The rules focus on enhancing transparency on climate-related risks and align...more
In this episode, the second in our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at the EU’s Taxonomy Regulation and what it means for business.
Among...more
7/1/2021
/ Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
Investors ,
Sustainability ,
Taxonomy
The Financial Conduct Authority (FCA) has issued consultation papers introducing new mandatory climate-linked disclosure requirements. The proposals are consistent with the “roadmap” published by the UK Government, which set...more
TCFD Mandatory Disclosures -
The UK Department for Business, Energy & Industrial Strategy (BEIS) has published a Consultation on requiring mandatory climate-related financial disclosures by large publicly quoted companies,...more
The European Supervisory Authorities (ESAs) have published the draft Regulatory Technical Standards (“Taxonomy RTS”) on product-level disclosures that apply to funds or portfolios that promote or make environmentally...more
The European Supervisory Authorities (ESAs) have published the final draft of the Regulatory Technical Standards (RTS) under the EU Sustainable Finance Disclosure Regulation (SFDR), which set out the detailed disclosure...more
European financial supervisory authorities have requested the European Commission to clarify key areas of ambiguity regarding the scope and application of the Sustainable Finance Disclosure Regulation (SFDR), including its...more
1/18/2021
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Business Plans ,
Business Strategies ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
European Supervisory Authorities (ESAs) ,
Popular ,
SFDR ,
Sustainability
1. New EU and UK disclosure requirements -
The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European...more
11/25/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Green Finance ,
Investment Management ,
MiFID II ,
Popular ,
SFDR ,
Shareholder Rights ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UCITS ,
UK