On 5 March 2025, the United Kingdom’s Financial Conduct Authority (“FCA”) published the findings of its multi-firm review of valuation processes for private market assets (the “Review”). The Review covered a firms operating...more
3/10/2025
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Conflicts of Interest ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Investment Funds ,
Investors ,
Policies and Procedures ,
Private Equity ,
Private Funds ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Valuation
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
3/10/2025
/ Alternative Investment Funds ,
Artificial Intelligence ,
Asset Management ,
Cryptoassets ,
Disclosure Requirements ,
Economic Growth ,
Economic Sanctions ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investors ,
Popular ,
Prudential Regulation Authority (PRA)
The Corporate Transparency Act (the CTA) requires a range of entities, primarily smaller, unregulated companies, to file reports with FinCen, and arm of the Treasury Department, identifying the entities’ beneficial owners,...more
On 26 February 2025, the European Commission (the “Commission”) adopted a new package of proposals to simplify the regulations on sustainability. Their aim is to combine the competitiveness and climate goals of the European...more
2/27/2025
/ Climate Change ,
Corporate Counsel ,
Corporate Social Responsibility ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
Within the investment industry, sustainability is an area that has evolved significantly over the past few years. For infrastructure funds, the regulatory environment and regional differences have created a complex landscape...more
2/24/2025
/ Climate Change ,
Disclosure Requirements ,
Energy Sector ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
Greenwashing ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
Investment ,
Reporting Requirements ,
SFDR ,
Sustainability ,
Sustainable Finance
On 14 February 2025, the Financial Conduct Authority (the “FCA”) updated its webpage on consultation paper (CP24/8) on extending the sustainability disclosure requirements (“SDR”) and investment labelling regime to portfolio...more
On 5 February 2025, the EU Platform on Sustainable Finance (the ‘‘Platform’’) published a report with recommendations on how to simplify the EU Taxonomy (the ‘‘Report’’). The EU Taxonomy is the EU’s classification system for...more
On 29 January 2025, the European Commission published a communication on its Competitiveness Compass for the EU (COM(2025) 30). The Competitiveness Compass outlines the European Commission’s proposed initiatives for the next...more
2/5/2025
/ Compliance ,
Corporate Governance ,
Economic Growth ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Small and Medium-Sized Enterprises (SMEs) ,
Sustainable Finance ,
Taxonomy
HM Treasury published the UK Green Taxonomy Consultation (the ‘‘Consultation’’) on 14 November 2024, and there is one week to go until the consultation window closes on 6 February 2025. The Consultation seeks views on the...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
2/5/2025
/ Artificial Intelligence ,
Cryptoassets ,
Digital Operational Resilience Act (DORA) ,
EMIR ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FSMA ,
Listing Rules ,
MiFIR ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Agenda ,
UK
In this alert, we reflect on recent climate reporting updates and analyze expectations for 2025 that are relevant for international businesses....more
1/16/2025
/ California ,
CARB ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Greenhouse Gas Emissions ,
New Legislation ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
UK
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
1/16/2025
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
Asset Management ,
Compliance ,
Cryptoassets ,
Digital Operational Resilience Act (DORA) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFID II ,
Money Market Funds ,
Regulatory Agenda ,
Securities Regulation ,
SFDR ,
Sustainability ,
UK
On 8 January 2025, the EU Platform on Sustainable Finance (PSF) published a draft report and launched a call for feedback on proposed updates to the EU taxonomy. This includes revisions to the Climate Delegated Act and new...more
1/10/2025
/ Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Greenhouse Gas Emissions ,
Investment ,
Mining ,
Renewable Energy ,
Reporting Requirements ,
Sustainability ,
Sustainable Finance ,
Taxonomy
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
1/6/2025
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
CPTPP ,
Cryptoassets ,
Dear Colleague Letter ,
Digital Operational Resilience Act (DORA) ,
EU ,
European Benchmark Regulation (BMR) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FSMA ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
SFDR ,
UK ,
UK Competition and Markets Authority (CMA)
On 12 December 2024, the European Securities and Markets Authority (“ESMA”) published a consultation paper (“Consultation”) on draft regulatory technical standards relating to open-ended loan originating AIFs under the...more
On 17 December 2024, the EU Platform on Sustainable Finance (the “Platform”), an advisory body to the European Commission (the “Commission”), has published a briefing note to the Commission, outlining their proposals for a...more
On 13 December 2024, the European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published Q&As with further details on three specific aspects of the practical application of...more
On 12 December 2024, the EU Regulation on ESG Ratings Providers and their transparency and integrity was published in the Official Journal of the European Union (the “Regulation”).
It means that the Regulation will enter...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
12/10/2024
/ Artificial Intelligence ,
Cryptocurrency ,
EMIR ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Services Industry ,
FSMA ,
MiFID II ,
MiFIR ,
Prudential Regulation Authority (PRA) ,
Retail Investors ,
UK
On 15 October 2024, the Luxembourg Commission de Surveillance du Secteur Financier (the “CSSF”) imposed a fine of EUR 56,500 against a fund manager, Aviva Investors Luxembourg S.A. (the “Manager”), with regards to the...more
On 13 November 2024, the European Commission published 90 frequently asked questions (‘‘FAQs’’) with the aim of enhancing stakeholders’ understanding and compliance with the sustainability reporting requirements under the...more
In the United Kingdom, prior approval must be obtained from the Financial Conduct Authority (the “FCA”) or the Prudential Regulation Authority (the “PRA”) prior to becoming a “controller” of an FCA or PRA authorised firm (an...more
On 14 November 2024, Rachel Reeves set out in her first Mansion House Speech that “sustainable finance” was to be one of the UK’s five priorities in the government’s Financial Services Growth and Competitiveness Strategy (the...more
It is no secret that the incoming Republican Administration has been skeptical of the federal government’s climate change measures, which brings further uncertainty to the SEC’s new climate change rules (the “Rules”). To be...more
11/19/2024
/ Appeals ,
California ,
Capital Markets ,
Carbon Emissions ,
Climate Change ,
Disclosure Requirements ,
Enforcement Actions ,
Final Rules ,
Greenhouse Gas Emissions ,
Risk Management ,
Securities and Exchange Commission (SEC)
In the evolving landscape of financial services, there have been reports that the Financial Conduct Authority (FCA) has recently classified FNZ, a prominent wealth management platform provider, as a ‘co-manufacturer’ of...more