Podcast: ESMA Report: Undue Pressure on Companies
Marketing will now expressly fall within the scope of delegation under AIFMD 2.0, to the extent that it is carried out on behalf of the alternative investment fund manager (AIFM). AIFMD 2.0 clarifies that only distributors...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
On 14 May 2024, ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). As a result, the use of certain environmental, social and governance (ESG) or...more
Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more
In this week’s edition, we look in detail at ESMA’s final guidelines on ESG and sustainability-related fund names. Staying with the regulatory guidance theme, we look at the Science Based Targets initiative’s announcement of...more
Financial Markets Infrastructure: The Bank of England published a speech by Sasha Mills, Executive Director, Financial Market Infrastructure, on operational resilience and its expectations of financial market infrastructures...more
The Situation: On October 5, 2023, the European Parliament and the Council of the European Union adopted the European Green Bond Regulation ("EuGB Regulation"), establishing a voluntary harmonized standard open to both EU and...more
Yesterday, ESMA published a risk analysis report outlining the results of its disclosure study on ESG names and claims in the EU funds industry. ESMA utilised natural language processing ("NLP") techniques to analyse 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
The consumer/retail sector has been the subject of a number of publications this week, including the European Commission’s Retail Investment Package and the FCA’s consultation on a new framework for firms to better support...more
Environmental, social and governance (ESG) ratings are increasingly used by investors, lenders and regulators to assess the sustainability performance of companies. They can, for example, assess an entity’s exposure to, and...more
A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
The European Securities and Markets Authority (“ESMA”) published a corrigendum from the European Commission to a set of answers on the application of the EU Sustainable Finance Disclosure Regulation (EU/2019/2088) (“SFDR”)....more
UCITS funds: HM Treasury announces extension of PRIIPs exemption - HM Treasury has announced that the current exemption for Undertakings for the Collective Investment in Transferable Securities (UCITS) funds from the...more
INTRODUCTION - On 24 December 2020, Michael Barnier, the European Union’s chief negotiator said, “The clock is no longer ticking”. Four and a half years after the Brexit referendum, the United Kingdom and the European Union...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
Annual transparency calculations for non-equity instruments: ESMA grants option to postpone to 21 September 2020 - The European Securities and Markets Authority (ESMA) has announced that trading venues and investment...more
27 March 2020: The Financial Conduct Authority (FCA), Financial Reporting Council (FRC), Prudential Regulation Authority (PRA) and the European Securities and Markets Authority (ESMA) have announced a series of actions to...more
A draft version of the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment etc and Transitional Provision) (EU Exit) Regulations 2020 has been published, together with an explanatory...more
U.S. Financial Industry Developments - FINRA Requests Comment on Financial Technology Innovation in the Broker-Dealer Industry - On July 30, 2018, the Financial Industry Regulatory Authority ("FINRA") published a...more
A monthly newsletter covering topics of interest in the field of UK corporate law including mergers and acquisitions, listed companies, equity capital markets, corporate governance and general company law. ...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more