In our annual financial services Horizon Scanning webinar, our regulatory team provided an overview of upcoming and expected changes for UK firms.
Partners from our UK team considered regulatory updates on the horizon for...more
The Financial Conduct Authority’s (FCA) new package of sustainability disclosure requirements (SDR) and investment labelling rules is a key pillar of the UK government’s efforts to introduce an economy-wide SDR regime. All...more
12/20/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Greenwashing ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices ,
UK
The FCA has issued the final version of its rules for stage one of the UK’s new Sustainability Disclosure Requirements or SDR, together with its new ESG product labelling regime. The rules are detailed and complex. The new...more
The FCA has issued the final version of its new anti-greenwashing rule – part of a package that includes additional rules as stage one of the UK’s new Sustainability Disclosure Requirements or SDR, plus the FCA’s new ESG...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
9/25/2023
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Investment ,
Investment Management ,
Investors ,
Regulatory Reform ,
SFDR ,
Sustainable Finance ,
Taxonomy ,
UK
There are useful takeaways for EU and non-EU firms arising from the European Supervisory Authorities’ (ESA) latest thinking on greenwashing. In June 2023, the ESAs issued progress reports examining greenwashing risks and...more
7/27/2023
/ EIOPA ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Greenwashing ,
Insurance Industry ,
SFDR ,
Sustainable Finance ,
Taxonomy
The Financial Conduct Authority (FCA) has published a Discussion Paper (DP) (DP23/1) titled “Finance for positive sustainable change: governance, incentives and competence in regulated firms”, which explores a number of key...more
At COP26 last year, the Chief Executive of the Financial Conduct Authority (FCA) warned the financial services industry that it was time to “walk the walk”, and emphasised that greenwashing would not be tolerated in the...more
The FCA published its final rules on the Consumer Duty in a Policy Statement on 27 July 2022 (PS22/9) and firms now have until 31 July 2023 to fully implement such rules for new and existing products or services and until 31...more
1. Speed read -
As the start date looms for the Regulatory Technical Standards (RTS) under SFDR and the product disclosure regime in the Taxonomy Regulation, firms are progressing their implementation projects. This...more
The FCA published its final rules on the Consumer Duty in a Policy Statement on 27 July 2022 (PS22/9) and firms now have until 31 July 2023 to fully implement such rules for new and existing products or services and until 31...more
The FCA has finalised its new proposed consumer duty regime for UK firms, with a start date of July 2023 (subject to transitional provisions). The first milestone in terms of a relevant firm’s implementation project is 31...more
The European Commission has finalised its proposed ESG-related changes to MiFID II. These are intended to fit together with SFDR, and are part of a suite of ESG related changes being made via amends to AIFMD, the UCITS...more
As the start date looms for the Regulatory Technical Standards (RTS) under SFDR and the project disclosure regime in the Taxonomy Regulation, firms are progressing their implementation projects. This bulletin gives a...more
1. Speed read -
As the start date looms for the Level 2 requirements under SFDR and the product disclosure regime in the Taxonomy Regulation, firms are progressing their implementation projects. This bulletin provides an...more
ESMA has published a new "Sustainable Finance Roadmap 2022-2024" setting out its strategic priorities and key planned actions for the next three years.
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In the context of COP26, the UK has taken the opportunity to issue an array of documents and proposals, hoping to establish its credentials (post Brexit) as a leading light on ESG and climate change, and a rival to the EU,...more
The European Commission has finalised its proposed ESG-related changes to MiFID II. These are intended to fit together with SFDR, and are part of a suite of ESG related changes being made via amends to AIFMD, the UCITS...more
As the start date for the EU Taxonomy Regulation looms, the ESAs have published their final draft of the RTS for the taxonomy’s product disclosure requirements.
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As appetite in the market for “green” and ESG badged products grows and grows, so too grows the number of legislative and regulatory initiatives intended to prevent or mitigate the risk of greenwashing.
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A number of deadlines are looming for private banks, wealth managers and advisers as the next stage of the EU’s Sustainable Finance Disclosure Regulation (SFDR) and Taxonomy Regulation begins to apply – this briefing gives a...more
A number of deadlines are looming for asset managers as the next stage of the EU’s Sustainable Finance Disclosure Regulation (SFDR) and Taxonomy Regulation begins to apply – this briefing gives a snapshot on what is required...more
The most innovative and challenging aspect of the EU’s Sustainable Finance Disclosure Regulation (SFDR) is probably the new principal adverse impacts or PAI regime. This is being introduced in stages, starting from 10 March...more
The new principle adverse impacts or PAI regime is one of the most challenging elements of the EU’s Sustainable Finance Disclosure Regulation (SFDR). It will require relevant firms to provide extensive disclosures on various...more
The first step in shaping the UK's financial services regime post-Brexit.
On 29 April 2021, the Financial Services Act 2021 (the Act) received Royal Assent. It is seen as the UK’s first step in control of the financial...more