Introduction: Advancing Global Sustainability Reporting Standards - To improve the alignment of sustainability reporting standards globally, the International Financial Reporting Standards Foundation (IFRS) and European...more
Welcome to the latest edition of our monthly ESG Insights providing you with a summary of the key developments from around the world. Global - IFRS Foundation releases jurisdictional adoption guide for ISSB Standards- On...more
In an historic turn of events at the 27th annual conference of the parties (or COP) to the UN Framework Convention on Climate Change (UNFCCC) hosted by Egypt in November 2022, nations rallied to address the realities of...more
As socially responsible investing has gone mainstream, regulators in Europe and the United States have stepped in and are now formalizing rules around disclosures pertaining to Environment, Social and Governance (“ESG”)...more
On 10 August 2023, the FCA issued another of its regular newsletters to primary market participants, Primary Market Bulletin 45 ("PMB 45"). This covers four topics: new IFRS sustainability and climate-related disclosures, the...more
The International Sustainability Standards Board (ISSB) standards have joined the climate-disclosure reporting frameworks that take a financial materiality-led approach. While the ISSB standards seek to streamline reporting...more
The call highlights the challenges in developing alignment between global ESG reporting standards. The European Central Bank (ECB) and the International Monetary Fund (IMF), two of the world’s leading public financial...more
Dealmakers should continue to weigh the impact of ESG issues on M&A deals as ESG standards evolve. Environmental, social, and governance (ESG) issues have become increasingly important for corporates in recent years,...more
ANTITRUST AND COMPETITION - The European Commission Opens a New Investigation in the Pharma Sector - On 4 March 2021, the European Commission (Commission) has opened a formal investigation into alleged misuses of patent...more
Prospectus Regulation - ESMA publishes Final Report on prospectus disclosure guidance to replace CESR Recommendations - Background - On 15 July 2020, ESMA published its Final Report1 on guidelines for disclosure...more
È noto che la pandemia di Covid-19 non ha avuto solamente una ricaduta devastante sul piano sociale e sanitario, avendo determinato una crisi economica rispetto alla quale non è ancora possibile stabilire con certezza gli...more
COVID-19: PRA Dear CEO letter on treatment of payment deferrals under IFRS 9 and CRR - On 4 June 2020, the UK Prudential Regulation Authority (PRA) published a Dear CEO letter on International Financial Reporting Standard...more
The European Securities and Markets Authority has published a statement calling for transparency in the half-year financial reports of EU-listed issuers. The statement focuses on interim financial statements that need to be...more
On May 20, 2020, the European Securities and Markets Authority issued a public statement on the impact of the COVID-19 pandemic on the half-yearly financials of listed issuers. In particular, ESMA addressed the preparation of...more
On 28 April 2020, the European Commission (the “Commission”) proposed a new Regulation to make targeted amendments to the EU Capital Requirements Regulation (575/2013) (“CRR”) and the CRR II Regulation ((EU) 2019/876) (“CRR...more
In 2019, a wave of bond-to-bond refinancings, as well as significant bank and term loan-to-bond refinancings, punctuated a strong year for debt financings after a slow first quarter. Throughout last year, debt investors...more
On 1 January 2019, International Financial Reporting Standards 16 came into effect, which introduced a change in reporting requirements for operating leases (such as leaseback leases). But has this had the negative effect on...more
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more
On January 13, 2017, the then-US Secretary of the Treasury and the then-US Trade Representative (USTR) notified Congress that they had negotiated a covered agreement with the European Union (EU). After a period of uncertainty...more
NPLs are a hot topic, high on the European supervisory authorities' agenda. Legislative and prudential requirements to reduce NPLs are rapidly evolving. In March of 2018, the EC published a package of reforms aimed at...more
HM Treasury has published explanatory guidance on a draft statutory instrument, the Official Listing of Securities, Prospectus and Transparency (Amendment) (EU Exit) Regulations 2019. The statutory instrument is still under...more
A report was recently published by the European Banking Authority (“EBA“) setting out the results of its 2018 EU-wide banking stress test which covered a sample of 48 banks in 15 countries in the EU and the EEA at the highest...more
The European Banking Authority has launched a consultation on proposed revisions to the existing Implementing Technical Standards for the financial reporting, or FINREP, framework under the Capital Requirements Regulation....more