In recent years, there has been a noticeable increase in green products and the promotion of sustainable objectives across the financial services industry. For example, we have seen much discussion of green loans, green...more
2/13/2024
/ Banks ,
Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
France ,
Germany ,
Greenwashing ,
Investment Funds ,
SFDR ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The much-promised financial promotions gateway has now become law. The UK financial promotions regime is undergoing a large amount of change at the moment, which we discussed previously....more
Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more
11/10/2022
/ Anti-Fraud Provisions ,
Anti-Money Laundering ,
Banking Sector ,
Business Interruption ,
Commercial Court ,
Coronavirus/COVID-19 ,
Cryptoassets ,
Disparate Impact ,
Economic Sanctions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
Fraud ,
Greenwashing ,
Imports ,
Liquid Natural Gas ,
NYDFS ,
Russia ,
Trade Restrictions ,
UK ,
UK Parliament ,
Ukraine
Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market....more
9/22/2022
/ Banking Sector ,
Change in Control ,
Cryptoassets ,
Dear CEO Letter ,
Diversity and Inclusion Standards (D&I) ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Payment Protection Insurance ,
Reporting Requirements ,
UK ,
UK Supreme Court ,
Unfair Contract Terms
Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market.
This edition covers...more
7/14/2022
/ Banking Sector ,
Capital Markets ,
Compliance ,
Congressional Committees ,
Economic Sanctions ,
Electronic Communications ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Health and Safety ,
Internal Controls ,
Mental Health ,
New Guidance ,
Online Platforms ,
Russia ,
UK
On 3 November 2021 the FCA published a discussion paper (DP) seeking views on how best to introduce Sustainability Disclosure Requirements (SDR) for certain asset managers and FCA-regulated asset owners, as well as a...more
11/5/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Discussion Draft ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Product Labels ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Building on its ambition to develop the UK as an international centre for green finance, as first set out in its 2019 Green Finance Strategy, the Government has published its Roadmap to Sustainable Investing. There are four...more
10/22/2021
/ Asset Management ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
European Economic Area (EEA) ,
Financial Conduct Authority (FCA) ,
G7 ,
Green Finance ,
Publicly-Traded Companies ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Taxonomy ,
UK
At our recent Funds First webinar we shared some technical and market issues and updates on a selection of key developments of impact for real estate funds. Our discussion covered the Long Term Asset Fund (LTAF) , the...more
9/27/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Investment Funds ,
Regulatory Requirements ,
REIT ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The FCA has published its much-anticipated consultation (CP21/17) on climate-related financial disclosures and guidance for UK asset managers, UK life insurers and FCA-regulated pension providers. Consistent with the...more
6/25/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Financial Statements ,
Information Reports ,
Listing Rules ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper...more
The FCA has launched its consultation (the Consultation), open for feedback until 25 June 2021, on a new category of authorised fund vehicle designed to accommodate investment in illiquid assets, the Long Term Asset Fund...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
1/14/2021
/ AIFM ,
AIFMD Passport ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
EU ,
EU Passport ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
MiFID II ,
Private Placements ,
Reverse Solicitation ,
Trade Agreements ,
UK
Since July 2019, the UK Financial Conduct Authority (“FCA”) has been consulting on proposals to bring the promotion of certain types of cryptoassets within the scope of financial promotions regulation. One of the more...more
The current investment landscape presents an opportunity to align operating, legal and governance approaches to ensure long-term value through sustainable business conduct. Firms who implement their commitment to...more
The Coronavirus outbreak has presented UK financial services firms (as well as other businesses) with sudden and significant challenges. Various responses have been and are being initiated by the relevant authorities. ...more
Following our previous update on the various regulatory responses to the Coronavirus crisis, we set out here a summary of the key developments that have materialised since. As we observed in our previous update, there are two...more
The impact of the Coronavirus crisis has been sudden and steep in the UK. There has been a huge number of announcements and initiatives of relevance to the UK financial services industry. We have selected the key items that...more
Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more
2/10/2020
/ Artificial Intelligence ,
Banking Sector ,
Blockchain ,
Bribery ,
Cartels ,
Corporate Governance ,
Corporate Misconduct ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Insurance Industry ,
Payment Systems ,
Risk Management ,
SMCR ,
Technology ,
UK ,
United Arab Emirates (UAE) ,
Whistleblower Protection Policies
Welcome to our Funds First Update. In this briefing we set out an overview of some of the main developments and upcoming changes that we think will be of impact to fund managers, fund investors and to the funds sector as a...more
2/6/2020
/ Alternative Investment Funds ,
Anti-Corruption ,
Anti-Money Laundering ,
Asset Management ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Senior Managers ,
SMCR ,
UK Brexit
What is it?
The EU has finalised and issued a new framework for the prudential regulation of investment firms. It will set new classification for investment firms that will in turn determine which of the new capital...more
12/2/2019
/ AIFM ,
Banking Sector ,
Capital Requirements ,
Capital Requirements Directive IV (CRDIV) ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Firms ,
Investment Management ,
MiFID II ,
Prudential Regulation Authority (PRA) ,
Prudential Standards ,
Regulation Technical Standards (RTS) ,
UCITS ,
UK Brexit
At our recent Funds First seminar we shared some technical and market issues and updates on the Senior Managers and Certification Regime (SMCR) and the FCA’s current cross-sector focus on culture. This briefing sets out some...more