The FCA emphasised the increasing prevalence of providers and the potential harm from lack of regulation in this area.
In June 2022, the UK’s Financial Conduct Authority (FCA) issued a Feedback Statement in response to a...more
The SEC proposals track EU requirements in certain respects, but differences in content and scope could leave advisory firms with increasingly complex compliance challenges.
Key Points:
..The proposal on ESG...more
The two new bodies are expected to help harmonise standards in different jurisdictions to meet investor demand for comparable ESG information.
On 27 April 2022, the International Sustainability Standards Board (ISSB)...more
The standards are part of a global initiative to consolidate sustainability disclosures to help investors assess the value of companies.
On 31 March 2022, the International Sustainability Standards Board (ISSB) released...more
Proposed changes seek to reflect the integration of sustainability considerations into MiFID II.
The European Securities and Markets Authority (ESMA) is consulting on updates to its Guidelines on the MiFID II suitability...more
Corporate reporting (including SEC developments), climate change, energy transition, supply chain management, and the mitigation of ESG-related litigation risk are expected to be the leading ESG themes of this year.
As...more
1/6/2022
/ China ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Greenwashing ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Task Force on Climate-related Financial Disclosures (TCFD)
The association noted that regulators could provide market participants with much-needed additional trust in ESG ratings and data.
On 23 November 2021, the International Organization of Securities Commissions (IOSCO)...more
11/30/2021
/ Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Information Reports ,
IOSCO ,
Jurisdiction ,
Market Participants ,
Publicly-Traded Companies ,
Ratings ,
Securities Regulation ,
UK
The regulator is inviting views on potential criteria for classifying and labelling investment products, and on further entity- and product-level sustainability-related disclosures.
On 3 November 2021, the FCA published...more
11/5/2021
/ Comment Period ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Institutional Investors ,
Investors ,
Product Labels ,
Regulatory Oversight ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
UK
The roadmap introduces sustainability disclosure requirements for UK companies and reveals further developments in relation to a UK Green Taxonomy.
On 18 October 2021, the UK government released a report titled “Greening...more
10/21/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
A new proposal would amend changes made to ERISA less than a year ago that have proved to be detrimental to ESG investing.
In a sweeping reversal of Trump-era policies, the US Department of Labor (DOL) has issued a...more
10/18/2021
/ Benefit Plan Sponsors ,
Biden Administration ,
Comment Period ,
Corporate Social Responsibility ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Executive Orders ,
Fiduciary Duty ,
Investment Management ,
Proposed Regulation ,
Retirement Plan
Green shoots emerge as PE firms consider new ways to incorporate ESG into dealmaking.
Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms’ competitiveness across the...more
10/7/2021
/ Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
General Partnerships ,
Limited Partnerships ,
Private Equity ,
Private Equity Funds ,
Publicly-Traded Companies ,
SFDR ,
Sustainable Business Practices ,
UK
The global asset management community has long been among the leaders in recognising the investment and risk management benefits of tracking the environmental, social, and governance (ESG) performance of the assets it invests...more
10/4/2021
/ Asset Management ,
Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Germany ,
Global Standards ,
Hong Kong ,
Investment Management ,
Multinationals ,
Publicly-Traded Companies ,
Singapore ,
Sustainability ,
UK
Delivering the European Green Deal | Fit for 55 package -
The European Commission has put forward Fit for 55, a package of legislative proposals to make its policies fit for delivering the updated 2030 greenhouse gas...more
On 26 July 2021, the Board of the International Organization of Securities Commissions (IOSCO) published a consultation report (the Report) that proposes a set of recommendations to mitigate risks flowing from activities of...more
FCA has published guiding principles on the design, delivery, and disclosure of ESG and sustainable investment funds.
On 19 July 2021, the FCA published a letter sent to chairs of authorised fund managers, which sets out...more
The latest edition of our Private Bank Briefing provides a roundup of legal and compliance issues impacting private banks and their clients from Q2 2021.
In this edition, we cover sustainable finance developments, the...more
6/29/2021
/ Asset Protection ,
Banking Sector ,
Climate Change ,
Consultation ,
Consumer Protection Laws ,
Dear CEO Letter ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinTech ,
Libor ,
MiFID ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Standards ,
Retail Investors ,
Sustainable Finance ,
UK
The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers.
On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more
6/28/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Pensions ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Board members are expected to have adequate knowledge and understanding of climate-related and ESG risks. Legislators and regulators around the world have long recognised that one of the most effective ways to drive change is...more
6/21/2021
/ Board of Directors ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Central Bank ,
Publicly-Traded Companies ,
Risk Management ,
Sustainable Finance
Proposed changes to the UK Listing Rules would allow certain SPACs to avoid a listing suspension.
Key Points:
..The FCA is proposing to amend its rules so that SPACs meeting certain conditions and disclosure...more
The EBA consultation paper calls for the implementation of a Green Asset Ratio to measure banks’ sustainability performance.
Regulators and sustainability-conscious investors increasingly expect banking institutions in...more
5/5/2021
/ Business Strategies ,
Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Sustainability
For market participants pivoting toward ESG and digital assets, weighing the issues at the crossroads of these two megatrends is critical.
The huge rise in popularity of Bitcoin - and the growing interest by mainstream...more
4/13/2021
/ AML/CFT ,
Blockchain ,
Climate Change ,
Corporate Governance ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
Paris Agreement ,
Popular ,
Risk Management
ESMA and the EBA advise on KPIs for transparency on institutions’ environmentally sustainable activities, and the EBA consults on prudential disclosures of ESG risks under the CRR. On 26 February 2021, both the European...more
Three delegated acts that supplement the EU Benchmarks Regulation will come into force on 23 December 2020.
The long-awaited delegated acts (Delegated Acts) required by Regulation (EU) 2019/2089 (the Low Carbon Benchmarks...more
FCA director highlights areas of concern in relation to ESG reporting and provides recommendations.
Richard Monks, Director of Strategy at the UK Financial Conduct Authority (FCA), recently delivered a speech on the...more
In its finalized rule amending ERISA, the DOL makes financial factors paramount in a fiduciary’s responsibility to investors.
On October 30, 2020, the US Department of Labor (DOL) published Financial Factors in Selecting...more
11/10/2020
/ Carbon Emissions ,
Corporate Counsel ,
Corporate Governance ,
Corporate Social Responsibility ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Final Rules ,
Investment Management ,
Net Zero ,
Pension Funds ,
Public Comment ,
Publicly-Traded Companies ,
Retirement Plan ,
Sustainable Business Practices