On 22 May 2023, the FCA published a consultation paper (CP23/12) on the second phase of expanding the Dormant Assets Scheme. The Dormant Assets Scheme was initially set up to allow banks and building societies to pay dormant...more
The FCA has published its anticipated Policy Statement (PS23/6) ‘Financial promotion rules for cryptoassets’ which brings cryptoasset promotions made to UK consumers within the regulator’s remit. The new rules, which come...more
With the economic and geopolitical environment likely to remain ‘highly uncertain’, the FCA’s latest Business Plan reflects its decision to accelerate work in four areas over the next year: putting consumers’ needs first;...more
The government's updated net-zero Green Finance Strategy was published on 30 March 2023. We set out below the key elements of the updated Strategy which focuses on the need for green investment and on opportunities for the...more
3/31/2023
/ Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Green Finance ,
Popular ,
Sustainability ,
Sustainable Finance ,
UK ,
Wealth Management
The FCA has confirmed that it is delaying its final rules and policy statement in relation to the Sustainability Disclosure Requirements and investment labels proposals from the end of June 2023 to Q3 2023....more
ESG developments have continued at a steady pace throughout February with ESG remaining squarely on the financial services regulatory agenda in the UK, EU and internationally. In this edition, we share the latest regulatory...more
HM Treasury have published a Call for Evidence seeking views on the practicalities of aligning the ring-fencing and resolution regimes for banks and long-term options for reform. The Call for Evidence closes on 7 May 2023....more
The eagerly awaited sixth edition of the Financial Services Regulatory Initiatives Grid has been published by the Financial Services Regulatory Initiatives Forum. The delay to its publication (originally expected in November...more
The Treasury Sub-Committee on Financial Services Regulations has opened an Inquiry into greenwashing and sustainability disclosure requirements following the FCA’s SDR and labelling proposals in FCA CP22/20 which concluded...more
The FCA has been consulting on proposals for a new core investment advice regime which aims to facilitate greater consumer access to simplified advice on investing in mainstream products. The consultation remains open for...more
The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more
On 10 February 2023, the UK’s Financial Conduct Authority (FCA) published a discussion paper on finance for driving positive sustainable change. The discussion paper considers firms’ sustainability-related governance...more
On 8 February 2023, the Bank of England published a Policy Statement on outsourcing and third party risk management in financial market infrastructures (FMIs). The Policy Statement provides feedback to three previous Bank...more
2023 is here and ESG developments have continued apace throughout January with ESG remaining squarely on the financial services regulatory agenda in the UK and internationally. In this edition, we share the latest key focal...more