The European Commission published a proposal for a regulation on combating late payment in commercial transactions last year which will introduce new rules, including that payments have to be made within 30 days, albeit with...more
Our latest ESG regulatory round-up highlights the key UK, EU and international financial services regulatory developments during Q1 2024. Key ESG developments this quarter include the publication of the FCA’s Business Plan...more
On March 11 2024, Eurogroup issued a statement outlining common priorities for the future development of the European capital markets union (CMU), which will be presented to EU Leaders at the Euro Summit in Brussels on March...more
The European Central Bank (ECB) published its latest Supervision Newsletter on 21 February 2024 which highlighted, amongst other updates, that the number of outsourcing contracts for ECB supervised banks has increased...more
On 29 January 2024, the European Securities and Markets Authority (“ESMA”) published two Consultation Papers seeking comments on draft guidelines under the Markets in Crypto Assets Regulation—one on the “reverse solicitation...more
On 31 July 2023, the Commission adopted the European Sustainability Reporting Standards (ESRS) for companies reporting under the Corporate Sustainability Reporting Directive ((EU) 2022/2464) (CSRD). The ESRS are based on...more
The Retained EU Law (Revocation and Reform) Act 2023 received Royal Assent on 29 June 2023. We set out below the key provisions and objectives of this wide-ranging Act....more
Throughout July we have continued to see key developments in ESG and sustainable finance regulation as regulators and legislators start to move into summer recess. Notably this week we have seen the adoption by the European...more
As we reach the midway point of 2023, the Hogan Lovells Sustainable Finance and Investment practice thought it would be useful to provide a review of recent key ESG developments from March-June 2023 to assist with navigating...more
7/10/2023
/ Banking Sector ,
Banks ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
HM Treasury ,
International Capital Markets Association (ICMA) ,
Popular ,
Sustainability ,
Sustainability-Linked Loans (SLLs) ,
UK
On 12 April 2023, the three European Supervisory Authorities (EBA, EIOPA and ESMA, together the ESAs) published a joint consultation paper in response to their joint mandate to review and revise the RTS supplementing SFDR....more
The European Commission has published a call for feedback on proposals for a new set of EU Taxonomy criteria for the remaining environmental objectives. In addition, the European Commission has published the EU Taxonomy...more
The government's updated net-zero Green Finance Strategy was published on 30 March 2023. We set out below the key elements of the updated Strategy which focuses on the need for green investment and on opportunities for the...more
3/31/2023
/ Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Green Finance ,
Popular ,
Sustainability ,
Sustainable Finance ,
UK ,
Wealth Management
The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more
The Financial Conduct Authority has published a long-awaited consultation paper on a new regime of sustainability disclosure requirements and investment labels for the UK....more