In 2027, the UK will introduce a carbon border adjustment mechanism (CBAM) on imports of certain carbon intensive goods. The CBAM will impose a charge on the emissions embodied in relevant imports that take place on or after...more
4/5/2024
/ Carbon Emissions ,
Environmental Policies ,
EU ,
HMRC ,
Imports ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Taxation ,
UK ,
Value-Added Tax (VAT)
With the Intergovernmental Panel on Climate Change (IPCC) concluding that it will be difficult (and in some cases impossible) to reduce emissions to zero in certain sectors, several hundred million tonnes of CO2 will need to...more
Creating an effective regulatory framework will be critical to deliver Net Zero. But does that mean more – or less – regulation?
From trade agreements to taxonomies, carbon adjustment mechanisms to corporate sustainability...more
3/7/2024
/ Asia Pacific ,
Carbon Capture and Sequestration ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Energy Sector ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Global Economy ,
Global Market ,
Infrastructure ,
Investment Funds ,
Investment Management ,
Investors ,
Middle East ,
Net Zero ,
Regulatory Agenda ,
Regulatory Requirements ,
Renewable Energy ,
Sustainability ,
Taxonomy ,
Technology Sector ,
UK ,
United States
Who has to comply with the Regulation? The Regulation only applies to EU person exporters who are selling, supplying, transferring, or exporting the targeted goods (including aircraft) to third-country counterparts outside of...more
On 6 October 2023, the Court of Appeal handed down judgment in the case of Mints & ors v PJSC National Bank Trust & anor [2023] EWCA 1332.
The judgment confirmed that the UK’s sanctions do not preclude the English courts...more
12/5/2023
/ Appeals ,
Control Test ,
Financial Institutions ,
HM Treasury ,
International Trade ,
New Legislation ,
Office of Financial Sanctions Implementation (OFSI) ,
Regulatory Reform ,
Russia ,
Sanctions ,
UK ,
UK Supreme Court
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
Following an intense and lengthy period of speculation, on 8 February 2023 the UK Government confirmed the introduction of a new “failure to prevent” corporate criminal offence. The new offence will be introduced by way of...more
To mark the one-year anniversary of Russia’s full-scale invasion of Ukraine, the EU and the UK, in parallel with other G7 members, released a new round of sanctions against Russia. In this bulletin we provide a high-level...more
At the close of 2022, and with the war in Ukraine entering its tenth month, the EU and the UK adopted further sanctions packages against Russia.
The latest sanctions packages include further asset freezes, an EU...more
The UK Government has introduced two further packages of sanctions against Russia in quick succession....more
On 6 October 2022, the European Union published its eighth package of sanctions against Russia. This responds to the organisation of ‘referenda’ in the Donetsk, Kherson, Luhansk and Zaporizhzhia regions, the annexation of...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.
...more
In response to events in Ukraine, the EU and the UK have continued to announce further and more extensive sanctions on Russia. In this bulletin, we set out an overview of the three EU sanctions packages announced to date, and...more
In response to the Russian Federation’s formal recognition of two regions in Eastern Ukraine – Donetsk and Luhansk – as independent states, earlier this week the EU and the UK adopted an initial package of new sanctions...more
Following an extensive consultation process, the Equator Principles Association (EP Association) adopted a fourth iteration of the Equator Principles (EP4) on 18 November 2019. Originally, EP4 was due to come into effect on 1...more
The European Commission has invited stakeholders to comment on issues that should be included in the next update of the Blue Guide on the implementation of EU product rules (the Blue Guide). The invitation can be found here....more
The EU’s key financing restrictions targeting certain Russian sectoral sanctions targets are contained in Article 5 of Council Regulation (EU) No 833/2014 (Article 5). Article 5 restricts certain activities involving...more
Should the UK leave the EU without any new deal being put in place, or come to the end of any implementation period following the UK’s exit without further agreement, the UK will look to re-establish all of the EU sanctions...more
An introduction to the EU-Canada Comprehensive Economic and Trade Agreement (CETA) -
Introduction -
The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada that provisionally entered into force...more
Reputational concerns and the growing focus of financial regulators on money laundering and counter-terrorist financing (CTF) are starting to have an impact on how non-regulated sectors of the economy view and address these...more
On 25th June Ofwat announced that it was seeking to impose its largest ever penalty on Southern Water after a series of failings related to the operational management of a number of its UK wastewater treatment works. In...more
In 2014 and 2015 the EU introduced sectoral sanctions against certain Russian and related entities. Those sectoral sanctions are primarily set out in Council Regulation (EU) No 833/2014 of 31 July 2014 (as amended) (the...more
On February 3, 2017, the U.S. Office of Foreign Assets Control (OFAC) added 25 persons to its List of Specially Designated Nationals and Blocked Persons (the SDN List, and every person thereon, an SDN) as a result of their...more
In its first public statement since the inauguration, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) announced on February 2, 2017, that it had authorized limited dealings with the Federal Security...more