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UK Regulators Launch Discussion on Diversity and Inclusion

Discussion Paper opens debate on potential new rules to improve diversity in financial services. On 7 July 2021, the FCA, the PRA, and the Bank of England published a joint Discussion Paper on diversity and inclusion in...more

FCA Proposes New Climate-Related Disclosure Regime

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

FCA Consults on Rule Changes to Accommodate SPACs

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

UK Independent Anti-Slavery Commissioner Publishes Recommendations for the Financial Industry

The report’s recommendations cover a number of areas, including culture and strategy, monitoring and reporting, investor engagement, policy formation and employee training, and philanthropy. A new report from the UK...more

Scrutinising Supply Chains - New Tools for PE

Sponsors should consider leveraging technologies and diligence practices to tackle today’s increasingly complex supply chains. Global supply chains have come under significant pressure in recent years, compounded by the...more

FCA Considers Establishing ESG Guiding Principles

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

UK Announces Climate Focused Financial Services Regime

The UK Government presents initiatives designed to green the UK economy and bolster attractiveness as an international financial centre. On 9 November 2020, Rishi Sunak, Chancellor of the Exchequer, announced several...more

The CFRF Guide to Climate-Related Financial Risk Management

The CFRF’s practical Guide encourages UK regulated financial services firms to take active steps to manage climate-related financial risks. Background - On 29 June 2020, the Climate Financial Risk Forum (CFRF) launched...more

UK Delays Decision on Adopting EU Sustainable Finance Taxonomy

The delay may complicate the regulatory landscape for sustainable finance as the EU moves toward a standardized classification system.  The UK government (government) has delayed a decision on whether it will adopt the...more

Sustainable Finance and Climate Change Risk in Financial Services - March 2020

Financial services regulators have been particularly vocal in the last 12 months, specifically about the impact on the financial services sector as the world experiences, and attempts to respond to, climate change. Mark...more

FCA Proposes New Rules on Climate-Related Disclosures by Listed Issuers

The FCA is moving towards formalising issuers’ compliance with the TCFD recommendations. Key Points: ..The FCA is proposing that premium listed commercial companies will need to disclose how they have implemented the...more

W&I Insurance: Exclusions and Solutions for Private Equity

How can deal teams capitalise on the latest trend in the deal insurance market to improve bid success? The emergence of contingent risk insurance policies, which address known risks that would otherwise be excluded from...more

50 Shades of Green Finance: An Untapped Opportunity for Private Equity

Sustainable finance and its surrounding infrastructure offers growing potential for deals and green innovation. The global sustainable finance market has expanded rapidly in recent years, approaching US$320 billion in new...more

ESG Matters Incorporated Into UK Stewardship Code

The revised Code is likely to encourage a more robust and substantive review of ESG issues by institutional investors. Background - The UK Stewardship Code (the Code) was originally published in 2010 following a review...more

First Subsidy-Free Solar Farm Opens in UK

The first solar farm has successfully launched in the UK without government subsidisation. Clayhill Solar Farm, a 10 megawatt (MW) site near Flitwick in Bedfordshire, is capable of generating enough power for 2500 homes. ...more

UK Launches Taskforce to Encourage Growth of Green Finance

The UK government has announced that it is bringing together a new taskforce led by senior financiers in order to encourage the growth of “green finance”. The taskforce, which will be chaired by Sir Roger Gifford, former lord...more

PRI’s Private Equity Terms Guidance Focuses on Environmental, Social, and Governance (ESG) Factors

On 13 July 2017, Principles for Responsible Investment (PRI) launched guidance on incorporating environmental, social, and governance (ESG) provisions in private equity fund terms. The publication, Incorporating Responsible...more

Will TCFD Final Recommendations Change the Landscape of Climate-related Financial Disclosure?

On 29 June 2017, the Task Force on Climate-related Financial Disclosure (TCFD) published its final recommendations. The TCFD set out information that companies should disclose to enable investors, lenders, and insurance...more

Bank of England’s Response to Financial Risks Arising from Climate Change

On 16 June 2017, the Bank of England (BoE) published an article setting out its response to climate change, explaining that climate change and society’s response to it presents certain financial risks. These risks arise...more

Well-being of Future Generations (Wales) Act 2015 and the Public Trust Doctrine: What Can We Expect?

The public trust doctrine is the principle that certain natural and cultural assets are preserved for public use and that it is the government’s obligation to protect and regulate these, both now and for future generations....more

Another Key Decision on Corporate Separateness – High Court Finds That There is No Arguable Case for Unilever to be Held Liable...

In a recent decision, the High Court has ruled that Unilever plc (Unilever), the ultimate holding company of the Unilever Group, does not owe a duty of care to protect the employees and residents of a tea plantation owned and...more

Sustainable Loans - Breaking the Mould for Sustainable Investment

Royal Philips, a health technology company, has recently agreed to an innovative revolving credit facility agreement with a margin linked to the company’s year-on-year sustainability performance improvement. The agreement was...more

Modern Slavery – An Update

26 March 2017 marked two years since the introduction of the Modern Slavery Act 2015. As the signature legislation of the then Home Secretary (Theresa May – now Prime Minister), it heralded greater focus on an issue that...more

The Erosion of Cost Caps – at the Expense of Bona Fide Environmental Challenges?

Key changes to the Protective Cost Order regime (PCO) came into force on 28 February 2017, which could directly limit the ability of individuals and organisations to bring environmental-related legal challenges in England and...more

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