The UK Financial Conduct Authority (FCA) recently adopted a new anti-greenwashing rule, alongside supplemental guidance, requiring that financial service businesses regulated by the FCA ensure that any sustainability claims...more
Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly...more
Amid a rise of environmental, social, and governance (ESG) investing and initiatives, the European Union and United Kingdom have set their sights on efforts to combat greenwashing in the financial sector. Regulations...more
This Insight discusses the growth and development of class and collective actions and considers future trends in the United States, the European Union, and the United Kingdom....more
UK regulators have recently been taking aim at environmental, social and governance (ESG) issues, namely ways to approach “greenwashing,” practices where false, misleading, overstated or unsubstantiated environmental material...more
In 2023, there was an expansion in scope of the discussion around forced labor in the global supply chain. In the United States, the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) continued to be the main...more
The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and...more
Unlike the United States, the United Kingdom and, so far, the EU Member States do not all have domestic class action regimes or a cross-border class action regime (as detailed below), and instead have collective actions....more
Software developers should take note of a recent English Court of Appeal decision. According to the court, “If the decentralised governance of bitcoin really is a myth, then . . . there is much to be said for the submission...more
The prevention of forced labor in the global supply chain has been elevated in visibility and consequence over the last several years. In 2022, the emphasis focused largely, though not exclusively, on trade remedies. The...more
The National Crime Agency (NCA) in the UK has indicated a willingness to investigate companies that import goods made or assembled by forced labourers on the grounds that those products may constitute the proceeds of crime....more
The highly anticipated UK Supreme Court decision in Lloyd v. Google has brought into focus (1) the operation of the United Kingdom’s collective redress regime brought under the civil procedure rules, particularly the...more
The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and Office of Financial Sanctions Implementation (OFSI) have announced they will change the structure and format of the UK Sanctions List and OFSI’s...more
The European Commission and the European External Action Service issued Guidance on Due Diligence for EU Businesses to Address the Risk of Forced Labour in Their Operations and Supply Chains (Guidance) on 12 July as a guide...more
Companies doing businesses in the European Union should note an important development that could introduce a duty of care for companies. On 10 March 2021, the EU Parliament approved an outline proposal for an EU Directive on...more
The UK Financial Conduct Authority (FCA) has recently announced that it is considering adding a sixth question on diversity and inclusion (D&I) to its five conduct questions (5CQs). The significance of D&I has long been...more
The Financial Conduct Authority (FCA) has emphasised in recent years that firms should consider nonfinancial misconduct when assessing the fitness and propriety of staff. ...more
All dual-regulated and FCA solo-regulated firms are now under the scope of the Senior Managers & Certification Regime (SMCR), with many working hard in recent months to ensure all aspects of the regime are well embedded. ...more
Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The...more
1/29/2021
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The EU Parliament has approved the EU Council’s position on representative actions. By doing so, it has paved the way for consumers in Europe to be able to sue companies collectively....more
The UK Financial Conduct Authority recently published Policy Statement 20/12, which sets out the final rules on the extension of the Senior Managers and Certification Regime implementation deadlines for the certification...more
The UK Financial Conduct Authority recently closed its consultation (CP20/10) to extend the deadline for solo-regulated firms to conduct their first fitness and propriety assessments of certified staff and train all staff on...more
The Financial Conduct Authority (FCA) published a consultation paper on 3 August on amending its Dual-Regulated Firms Remuneration Code and relevant guidance in light of the EU’s revised Capital Requirements Directive (CRD...more
A new act in the United Kingdom provides power to HMRC to claw back coronavirus (COVID-19) support payments and issue penalties for deliberate and inadvertent misuse of such schemes....more
The Financial Conduct Authority (FCA) began a consultation (CP20/10) on 17 July on the extension of the deadlines by which FCA solo-regulated firms must have first assessed the fitness and propriety of their certified staff,...more