Asset managers across geographies and asset classes are increasingly incorporating environmental, social and governance (“ESG”) considerations at all levels of the investment management business. Increased focus on ESG has...more
Tackling climate change is not a new initiative in the UK. Indeed, the UK was one of the first countries worldwide to endorse the recommendations of the Task Force for Climate-related Financial Disclosures (TCFD) – aimed at...more
12/3/2020
/ Asset Management ,
Climate Change ,
Corporate Counsel ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Statements ,
Green Finance ,
UK ,
UK Brexit
What is the law?
Directive (EU) 2017/828 (“SRD II”), amending the Shareholder Rights Directive (2007/36/EC), came into force on 9 June 2017 [link]. SRD II introduced new transparency obligations on “institutional...more
11/16/2020
/ AIFM ,
Asset Management ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
European Economic Area (EEA) ,
European Shareholders' Rights Directive II (SRD II) ,
Institutional Investors ,
Publicly-Traded Companies ,
Shareholder Rights ,
Stakeholder Engagement ,
UCITS
What is IORP II?
Directive (EU) 2016/2341 on the activities and supervision of institutions for occupational retirement provision, widely referred to as IORP II, sets out minimum harmonization rules for financial...more
10/20/2020
/ Collective Investment Schemes ,
Environmental Social & Governance (ESG) ,
EU Directive ,
IORP II ,
Managers ,
Member State ,
Pensions ,
Retirement ,
Retirement Funds ,
Risk Management ,
Social Security
On October 9, 2020, ISDA announced that on October 23, 2020 it will launch (1) the IBOR Fallbacks Supplement (Supplement) to the 2006 ISDA Definitions (Definitions) and (2) the ISDA 2020 IBOR Fallbacks Protocol (Protocol)....more
10/15/2020
/ Antitrust Division ,
Department of Justice (DOJ) ,
Derivatives ,
Financial Conduct Authority (FCA) ,
IBOR Fallbacks Supplement (Supplement) ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
ISDA ,
ISDA 2020 IBOR Fallbacks Protocol (Protocol) ,
Libor ,
Risk Free Rates (RFRs)
What is the law/regulation?
As part of a number of regulatory initiatives being implemented in the European Union, under its action plan for financing sustainable growth, proposed amendments to AIFMD and the UCITS Directive...more
9/5/2020
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Conflicts of Interest ,
Corporate Governance ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Management Companies ,
Popular ,
Proposed Amendments ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Factors ,
Risk Management ,
Sustainability ,
UCITS
The Autorité des Marchés Financiers (AMF) on 11 March 2020 published a doctrine (Position/Recommendation DOC-2020-03) imposing obligations on asset managers with the aim of ensuring that information they provide to investors...more
8/8/2020
/ AIFs ,
AMF ,
AMF Doctrine ,
Communication Restrictions ,
Environmental Social & Governance (ESG) ,
France ,
Investment Funds ,
Management Companies ,
New Rules ,
Shareholders ,
UCITS
Andrew Bailey’s most recent speech on LIBOR transition (now in his new capacity as Governor of the Bank of England) likened the transition away from LIBOR to the game of cricket...more
7/31/2020
/ Asset Management ,
Bank of England ,
Banking Sector ,
CEOs ,
Compliance ,
Dear CEO Letter ,
EU ,
EU Benchmark Regulation ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Interest Rates ,
Libor ,
Transitional Arrangements ,
UK
18 June 2020 will mark one year since the EMIR Refit Regulation (the “EMIR Refit”) came into force.
On the same date, the reporting responsibility changes introduced by the EMIR Refit will take effect....more
6/2/2020
/ AIFM ,
AIFs ,
Derivatives ,
EMIR ,
EU ,
Financial Counterparties (FC) ,
Non-Financial Counterparties (NFC) ,
Regulatory Requirements ,
Reporting Requirements ,
SFTR ,
UCITS
The draft regulatory technical standards (RTS) set out detailed information relating to the content, methodology and presentation of certain environmental, social, and governance (ESG) disclosures required under the EU...more
5/29/2020
/ Consultation Papers ,
Disclosure Requirements ,
Draft Implementation Regulations ,
Environmental Social & Governance (ESG) ,
EU ,
European Supervisory Authorities (ESAs) ,
Financial Services Industry ,
Popular ,
Regulation Technical Standards (RTS) ,
SFDR ,
Sustainable Finance
On 6 March 2020, the Financial Conduct Authority (“FCA”) launched a consultation paper outlining new climate-related disclosure requirements for premium listed issuers and consulting on guidance on existing obligations set...more
3/21/2020
/ Climate Change ,
Consultation Periods ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Proposed Rules ,
Publicly-Traded Companies ,
Sustainability ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Britain’s Prime Minister, Boris Johnson, secured victory in the December 2019 general election with a promise to “get Brexit done.” The UK duly left the European Union (EU) on 31 January, 2020, and the UK and the EU have...more
3/6/2020
/ AIFM ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Central Bank of Ireland ,
CSSF ,
Equivalency Determinations ,
EU ,
EU-27 ,
Free Trade Agreements ,
Implementation Day ,
Ireland ,
Luxembourg ,
Member State ,
Temporary Permissions Regime (TPR) ,
Transitional Arrangements ,
UCITS ,
UK ,
UK Brexit