The regulator is providing temporary flexibility in light of concerns that asset managers need extra time to prepare.
On 9 September 2024, the FCA published a statement on its naming and marketing rules under the...more
9/11/2024
/ Asset Management ,
Climate Change ,
Corporate Governance ,
Deadlines ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Marketing ,
Portfolio Managers ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
UK
Despite some adjustments to the proposed guardrails, the FCA has largely retained its original approach.
On 26 July 2024, the FCA published its final rules on payment optionality for investment research (PS24/9)....more
The FCA’s long-awaited regime seeks to raise standards, increase consumer understanding, and reduce instances of greenwashing.
On 28 November 2023, the FCA published its Policy Statement (PS23/16) containing final rules on...more
The FCA has set out good and poor practices for asset managers to consider in relation to funds with ESG or sustainable characteristics.
On 16 November 2023, the FCA published the findings from its review of how asset...more
11/28/2023
/ Asset Management ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Governance Standards ,
Investment Funds ,
Investment Management ,
Sustainability ,
Sustainable Business Practices ,
UK
The FCA and the PRA have published their long-awaited consultations which aim to formalise how firms approach diversity and inclusion.
On 25 September 2023, the FCA and the PRA published separate but related consultation...more
10/2/2023
/ Compliance ,
Compliance Monitoring ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
UK ,
Willful Misconduct
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments.
On 14 September 2023, the European Commission initiated a...more
9/27/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Green Finance ,
Investment Products ,
SFDR ,
Sustainable Finance ,
UK
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. ...more
5/24/2023
/ Alternative Investment Funds ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Products ,
Investors ,
Market Participants ,
Marketing ,
Regulation Technical Standards (RTS) ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UCITS
The regulator is concerned that ESG-related disclosures are not meeting expectations.
The FCA has published a Dear CEO letter sent to benchmark administrators on 20 March 2023, expressing concerns about the quality of...more
The FCA hopes the proposals will protect consumer trust in ESG-related financial products and help consumers navigate the increasingly complex ESG-related financial market.
On 25 October 2022, the UK’s Financial Conduct...more
The SEC proposals track EU requirements in certain respects, but differences in content and scope could leave advisory firms with increasingly complex compliance challenges.
Key Points:
..The proposal on ESG...more
The two new bodies are expected to help harmonise standards in different jurisdictions to meet investor demand for comparable ESG information.
On 27 April 2022, the International Sustainability Standards Board (ISSB)...more
HM Treasury’s Transition Plan Taskforce aims to influence international standard setting and make the UK the world’s first net zero-aligned financial centre.
On 25 April 2022, HM Treasury (HMT) announced the launch of...more
Corporate reporting (including SEC developments), climate change, energy transition, supply chain management, and the mitigation of ESG-related litigation risk are expected to be the leading ESG themes of this year.
As...more
1/6/2022
/ China ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Greenwashing ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Task Force on Climate-related Financial Disclosures (TCFD)
Truly Green? CMA Continues to Evolve Guidance and Metrics for Companies’ Environmental Claims -
The Competition and Markets Authority’s (CMA’s) Green Claims Code (the Code) and final guidance (the Guidance) on...more
12/22/2021
/ Climate Change ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
EU ,
Green Marketing ,
Net Zero ,
New Guidance ,
Regulation Technical Standards (RTS) ,
Sustainability ,
Taxonomy ,
UK ,
UK Competition and Markets Authority (CMA)
The association noted that regulators could provide market participants with much-needed additional trust in ESG ratings and data.
On 23 November 2021, the International Organization of Securities Commissions (IOSCO)...more
11/30/2021
/ Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Information Reports ,
IOSCO ,
Jurisdiction ,
Market Participants ,
Publicly-Traded Companies ,
Ratings ,
Securities Regulation ,
UK
The regulator is inviting views on potential criteria for classifying and labelling investment products, and on further entity- and product-level sustainability-related disclosures.
On 3 November 2021, the FCA published...more
11/5/2021
/ Comment Period ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Institutional Investors ,
Investors ,
Product Labels ,
Regulatory Oversight ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
UK
The roadmap introduces sustainability disclosure requirements for UK companies and reveals further developments in relation to a UK Green Taxonomy.
On 18 October 2021, the UK government released a report titled “Greening...more
10/21/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
A new national strategy report aims to combat climate-related risks to the US financial system.
On October 14, 2021, the Biden Administration issued “A Roadmap to Build a Climate-Resilient Economy” (the Roadmap), a...more
10/21/2021
/ Biden Administration ,
Climate Change ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Justice ,
Federal Acquisition Regulations (FAR) ,
Federal Budget ,
Financial Institutions ,
Financial Services Industry ,
FIO ,
Greenhouse Gas Emissions ,
Information Reports ,
Insurance Industry ,
OMB ,
Regulatory Agenda ,
Risk Alert ,
Risk Mitigation ,
Securities and Exchange Commission (SEC)
Green shoots emerge as PE firms consider new ways to incorporate ESG into dealmaking.
Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms’ competitiveness across the...more
10/7/2021
/ Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
General Partnerships ,
Limited Partnerships ,
Private Equity ,
Private Equity Funds ,
Publicly-Traded Companies ,
SFDR ,
Sustainable Business Practices ,
UK
The global asset management community has long been among the leaders in recognising the investment and risk management benefits of tracking the environmental, social, and governance (ESG) performance of the assets it invests...more
10/4/2021
/ Asset Management ,
Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Germany ,
Global Standards ,
Hong Kong ,
Investment Management ,
Multinationals ,
Publicly-Traded Companies ,
Singapore ,
Sustainability ,
UK
UK rules will diverge from the much-criticised EU framework.
On 20 July 2021, the FCA published a Consultation Paper (CP21/23) on amending the UK PRIIPs Regulation. The FCA has long held concerns about the PRIIPs...more
7/22/2021
/ Consultation ,
Corporate Bonds ,
Debt Securities ,
Disclosure Requirements ,
EU ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Services Industry ,
Investment Funds ,
Market Participants ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulation Technical Standards (RTS) ,
Retail Investors ,
UK ,
UK Brexit
FCA has published guiding principles on the design, delivery, and disclosure of ESG and sustainable investment funds.
On 19 July 2021, the FCA published a letter sent to chairs of authorised fund managers, which sets out...more
ESMA warns against investor protection risks and provides guidance on expected disclosures.
On 15 July 2021, ESMA published a statement on the prospectus disclosure and investor protection issues raised by special...more
7/19/2021
/ Consultation ,
Corporate Governance ,
Disclosure Requirements ,
EU Prospectus Regime ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
MiFID II ,
Prospectus ,
Prospectus Regulation (PR3) ,
Retail Investors ,
Special Purpose Acquisition Companies (SPACs) ,
UK
The latest edition of our Private Bank Briefing provides a roundup of legal and compliance issues impacting private banks and their clients from Q2 2021.
In this edition, we cover sustainable finance developments, the...more
6/29/2021
/ Asset Protection ,
Banking Sector ,
Climate Change ,
Consultation ,
Consumer Protection Laws ,
Dear CEO Letter ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinTech ,
Libor ,
MiFID ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Standards ,
Retail Investors ,
Sustainable Finance ,
UK
The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers.
On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more
6/28/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Pensions ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK