Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
The European Union (EU) Commission has published a draft set of frequently asked questions (FAQs) on the interpretation of certain provisions of the EU Corporate Sustainability Reporting Directive (CSRD) and the first set of...more
On 24 July 2024, the European Securities and Markets Authority ("ESMA") published an opinion on the sustainable finance regulatory framework (the "ESMA Opinion"), which outlines the ESMA's long-term vision for the functioning...more
Key topics in Akin’s July 2024 Sustainability/ESG Policy and Regulatory Update include: Updated Assessment of SFDR by EU Regulators: The European Supervisory Authorities have proposed changes to the Sustainable Finance...more
The ESAs urge the European Commission to consider a labelling rather than a disclosure regime to help consumers understand the sustainability goals of financial products....more
On 18 June 2024, the European Supervisory Authorities (the “ESAs”) published a joint opinion (the “Opinion”) on their recommendations for the next iteration of the Sustainable Finance Disclosure Regulation (“SFDR”)....more
On 3 May 2024, the European Commission published a summary of the 2023 consultation on the EU Sustainable Finance Disclosure Regulation (“SFDR”) (the “Summary”)....more
For funds categorised as Article 8 or 9 under the Sustainable Finance Disclosure Regulation (“SFDR”) with a 31 December financial year end, the periodic reporting deadline of 30 June is approaching with 100 days to go. Now...more
Here are some of our key focus items across Europe and the UK as we enter a New Year. There are, of course, others, but these represent the most important themes – a regulatory focus on the non-bank credit market, risk...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in December 2023: 21 December - UK / Swiss Regulatory...more
On 4 December 2023 the European Supervisory Authorities (the “ESAs”) published their final report on updating the regulatory technical standards of the Sustainable Finance Disclosure Regulation (“SFDR Level 2”). The...more
REGULATORY ISSUES & UPDATES - Mandatory Climate Change Reporting Requirements Under the New European ESRS E1 - The implementation of the European Sustainability Reporting Standards poses risks for reporting companies,...more
On September 14, 2023, the European Commission launched two consultations on the implementation of the Sustainable Finance Disclosures Regulation ("SFDR"): One targeted at public bodies and expert stakeholders, and one aimed...more
The European Commission recently launched two consultations — a public consultation and a targeted consultation (collectively, the Consultations) — seeking stakeholders’ feedback on potential changes to the Sustainable...more
The annual report of the European Supervisory Authorities (the “ESAs”) on the extent of voluntary disclosure of principal adverse impacts (“PAIs”) under the Sustainable Finance Disclosure Regulation (“SFDR”) was published on...more
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
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 European Commission (the Commission) has published two consultations to both evaluate and assess enhancements to the EU’s Sustainable Finance Disclosure Regulation (SFDR). Open until 15 December 2023, the Commission is...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
Over the last few months, the European Commission and the European Supervisory Authorities (“ESAs”) have published a number of press releases and reports that aim to clarify and provide further updates on concepts used within...more
On 13 June 2023, the European Commission published a new sustainable finance package. In particular the package of measures included (i) recommendations in respect of facilitating transition finance, (ii) a proposal in...more
On June 13, 2023, the European Commission published “a new package of measures to build on and strengthen the foundations of the EU sustainable finance framework.” The aim is to ensure that the EU sustainable finance...more
On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework. Its aim is to: “ensure that the EU sustainable finance framework continues to...more
On 13 June 2023, the European Commission (the "Commission") published a significant sustainable finance package on EU Taxonomy, ESG ratings and transition finance. Expansion of Taxonomy Regulation framework - The...more