Podcast: ESMA Report: Undue Pressure on Companies
Antitrust and Competition - The Court of Justice of the European Union Finds That the European Commission Lacks Jurisdiction to Review Transactions That Fall Below the EU and National Merger Filing Thresholds -On 3 September...more
The guidelines establish that to be able to use these terms, a minimum threshold of 80 percent of investments should be used to meet environmental, social characteristics or sustainable investment objectives. The guidelines...more
The European Securities and Markets Authority has published an Opinion on the sustainable finance regulatory framework, setting out possible long-term improvements. ESMA acknowledges that while the EU sustainable finance...more
Those who have had to navigate and consider the EU Sustainable Finance Disclosure Regulation (SFDR) have faced its challenges and noted its deficiencies. Specifically, these have included data gaps, the SFDR’s use as a...more
On 14 May 2024, the European Securities and Markets Authority (ESMA) published its final guidelines ESMA34-472-440 Final Report on the Guidelines on funds names (europa.eu) on the use of ESG- or sustainability-related terms...more
Guidelines indicate when asset managers may legitimately use ESG or sustainability-related terms in their fund names. On 14 May 2024, ESMA published its final Guidelines on funds’ names using ESG- or...more
In this week’s edition, we discuss the ever-increasing focus on greenwashing by way of enforcement action taken by regulatory authorities and incoming legislation aimed at enhancing consumer protection. The EU confirmed the...more
The Commission has launched a far reaching consultation and review of SFDR, long expected by the industry. This bulletin provides an overview, as well as giving thought as to what we might see in terms of SFDR 2.0....more
An evolving landscape of reforms in the ESG ratings sector continues to pose challenges to providers of ratings and scores. International momentum to regulate ESG ratings continues as the European Commission released a...more
Latham lawyers highlight key takeaways and developments in the sustainability space from the second half of the year. ...more
In a busy month for ESG and sustainability-disclosures developments, we take a look back at key developments such as the long-awaited publication of the UK FCA proposals around sustainability related disclosures and labelling...more
After a relatively quiet August in the area of sustainable finance-related disclosures, we have looked back throughout September 2022 and summarised the key points coming out of the EU....more
The European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority have published a consultation on draft Regulatory Technical Standards for disclosures on...more
Proposed changes seek to reflect the integration of sustainability considerations into MiFID II. The European Securities and Markets Authority (ESMA) is consulting on updates to its Guidelines on the MiFID II suitability...more
The European Commission published its long-awaited Strategy for Financing the Transition to a Sustainable Economy (the Strategy) today. The Strategy was announced as part of the European Green Deal in 2019 (originally...more
ESMA and the EBA advise on KPIs for transparency on institutions’ environmentally sustainable activities, and the EBA consults on prudential disclosures of ESG risks under the CRR. On 26 February 2021, both the European...more
Further to our Clients & Friends Memo of 22 June 2020, the Sustainability Taxonomy Regulation (2020/852) (the “Regulation”) was published in the Official Journal on 22 June 2020 and entered into force on 12 July 2020....more
ESMA has issued a stark reminder that reverse solicitation, where it can be used, has to be carefully managed and documented, and is an area of regulatory scrutiny and focus. This short note also takes stock on the EU27...more
Three delegated acts that supplement the EU Benchmarks Regulation will come into force on 23 December 2020. The long-awaited delegated acts (Delegated Acts) required by Regulation (EU) 2019/2089 (the Low Carbon Benchmarks...more
The European Commission and other bodies continue to press ahead with an ambitious Environmental, Social and Governance (ESG) sustainability agenda, with a number of further initiatives in the pipeline. ...more
For many in the Funds Industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry Letter”) relating to the Central Bank’s Thematic Review of Fund Management...more
ESMA advises the European Commission to consider some, but not all, of ESMA’s original proposals — and gives guidance on pre-hedging and market soundings along the way. Key Points: ..Pre-hedging / front running: ESMA...more
Welcome to our Funds First Update: a snapshot of some of the main developments and upcoming changes that we think will be of interest to fund managers, fund investors and to the funds sector as a whole. Despite the...more
What is the law/regulation? As part of a number of regulatory initiatives being implemented in the European Union, under its action plan for financing sustainable growth, proposed amendments to AIFMD and the UCITS Directive...more
ESMA has updated its CESR recommendations in line with the Prospectus Regulation and has taken this opportunity to clarify its expectations on key areas such as working capital statements and pro forma information. The...more