JONES DAY TALKS®: Riding the Green Bond Wave: Focus is on Standards as Volumes Surge
Podcast: European Green Finance and Sustainability Proposals – Impact for Asset Managers
INTRODUCTION - Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation...more
Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more
On 16 October 2023, Nikhil Rathi, Chief Executive of the FCA, delivered a speech at the City Dinner at Mansion House which describes the FCA’s work in supporting international competitiveness and growth. Amongst other things,...more
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments. On 14 September 2023, the European Commission initiated a...more
On June 29, 2023, the Financial Conduct Authority, the UK’s financial markets regulator, released a summary of its concerns over the market for sustainability-linked loans (SLLs). Responding to concerns that banks overstate...more
The UK government (the “Government”) has long spoken of its commitment to tackling greenwashing and creating the world’s first net-zero emissions financial centre. Read more about this in our client alert on the “Green...more
The U.K. Government has published the 2023 Green Finance Strategy, its latest plan for mobilizing finance to support the shift to a greener financial system. The U.K. has committed to becoming a net zero economy by 2050....more
The consultation considers what a potential regulatory regime would look like, and its proposed scope. On 30 March 2023, HM Treasury published a consultation on regulating ESG ratings providers, which ties in with and...more
Who is Now Subject to Climate-Related Financial Disclosures? Issuers of standard listed equity shares and Global Depositary Receipts (GDRs) will now be required to satisfy certain previously issued climate-related...more
In the wake of COP26, the UK has become the first G20 country to enshrine into law mandatory climate-related financial disclosures. The two new statutory instruments, The Companies (Strategic Report) (Climate-related...more
Our previous Client Alert of 5 November 2021 discussed the UK government’s policy paper “Greening Finance: A Roadmap to Sustainable Investing” (the “Roadmap”). The Financial Conduct Authority (FCA), on 17 December 2021,...more
The Financial Stability Board published its final report on the lessons learnt from the COVID-19 pandemic from a financial stability perspective. The Financial Conduct Authority (“FCA”) published a report on climate change...more
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
The latest edition of our Private Bank Briefing provides a roundup of legal and compliance issues impacting private banks and their clients from Q3 2021. In this edition, we include a summary of the latest sustainable...more
Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new...more
Recent changes introduced by the Financial Conduct Authority (FCA) - On 21 December 2020, as we broke for Christmas, the FCA published new Listing Rule 9.8.6R(8) (LR) and guidance requiring commercial companies with a UK...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
Draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 - A draft version of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2020 has been...more
Equivalence decisions for EEA states, green finance and fintech initiatives are at the forefront of the UK government’s priorities. On 9 November 2020, the UK Chancellor of the Exchequer, Rishi Sunak, delivered a statement...more
In March 2020, the UK’s Financial Conduct Authority (the “FCA”) released a consultation paper entitled: “Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations”...more
BREXIT/UK DEVELOPMENTS - ESG and Sustainable Investments: House of Lords EU Committee Queries Taxonomy Regulation With HMT - On January 16, the House of Lords European Union Committee published a letter from the...more
The Bank of England has published a discussion paper seeking feedback on its proposals for a series of 2021 stress-tests on climate-related risks for the largest banks, insurers and the financial system. The stress tests will...more
The U.K. Financial Conduct Authority has published a feedback statement on its proposals for improving climate change disclosures and the information given to consumers about green financial products and services. The...more
How to stay ahead of the curve, minimize future costs of compliance and feed the growing demand from investors for responsible products and services - Environmental, social and governance (ESG) investing is accelerating...more
BROKER-DEALER - SEC Issues Guidance on Substituted Compliance Applications by Non-US Security-Based Swap Dealers and Major Security-Based Swap Participants - On November 25, the Securities and Exchange Commission’s...more