News & Analysis as of

Environmental Social & Governance (ESG) Financial Institutions Financial Regulatory Reform

Orrick, Herrington & Sutcliffe LLP

OCC withdraws from international climate organization

On February 11, Acting Comptroller of the Currency Rodney E. Hood announced the OCC’s withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System. Hood emphasized that the OCC’s “primary...more

Latham & Watkins LLP

The Tides Are Changing For Fair Access Banking Laws

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Fair access banking laws, at the epicenter of the debates between ESG and so-called antiwoke regulation and federal/state preemption, may see a resurgence under the new presidential administration. In recent years, the...more

Proskauer Rose LLP

European Regulatory Timeline 2025

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Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financial services sector. The key dates have been...more

Latham & Watkins LLP

The Tides Are Changing (Again) for US “Fair Access” and “Anti-Debanking” Laws

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“Fair access” banking laws, at the epicenter of the debates between ESG and “anti-woke” regulation and federal/state preemption, may see a resurgence under the incoming administration. In recent years, the landscape of...more

Latham & Watkins LLP

Key Takeaways From Rachel Reeves’ Mansion House Speech

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The UK Chancellor announces a growth-focused agenda for financial services. On 14 November 2024, the new Chancellor of the Exchequer, Rachel Reeves, delivered her first Mansion House speech....more

DLA Piper

Disruption in Global Financial Services: Move Fast on Compliance, but Don’t Break Anything

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As they look to the future, financial services organizations are confronted by significant change, uncertainty, and disruption. Increasing deglobalization, macro-economic headwinds, the rise of big data, AI, and other new...more

Jones Day

CRD VI Requires Banks to Focus Even More on ESG Risk Management

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Against the backdrop of the comprehensive recast of European Union ("EU") banking legislation, the EU legislator is increasingly focused on Environmental, Social, and Governance ("ESG") risks. In this context, ad hoc...more

A&O Shearman

UK Climate Financial Risk Forum Publishes Guides on Climate Risk

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The U.K. Climate Financial Risk Forum (CFRF) has published three guides to help the financial sector develop its approach to climate-related financial risks and opportunities...more

A&O Shearman

New York Climate Week: TFMR event explores perspectives on accelerating decarbonization

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We were delighted to host the U.K. Transition Finance Market Review’s (TFMR) flagship event at New York Climate Week, in partnership with the City of London Corporation who host the TFMR secretariat. The session offered a...more

Conyers

Shifting Sands: The Future of Offshore Regulatory Disputes (Part 1)

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As an evolving area of commercial disputes in the Cayman Islands, global enforcement trends provide us with valuable insight into the types of regulatory proceedings on the horizon for offshore jurisdictions. In this first...more

K&L Gates LLP

July 2024 ESG Policy Update—Australia

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Australian Update - Proposed Code of Practice to Reduce Modern Slavery Through Lending, Investment and Asset Management - The New South Wales (NSW) Anti-Slavery Commissioner (Commissioner) recently released its discussion...more

Proskauer - Regulatory & Compliance

Regulation Round Up - June 2024

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in June 2024: 28 June PRIIPs Regulation: The Joint Committee...more

A&O Shearman

Delegated Regulation Published on Sustainability Impact Disclosures for Simple, Transparent and Standardized Securitizations under...

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Commission Delegated Regulation (EU) 2024/1700 has been published in the Official Journal of the European Union, supplementing the EU Securitization Regulation with regard to RTS specifying, for simple, transparent, and...more

Latham & Watkins LLP

MAS publishes Code of Conduct for ESG Rating and Data Product Providers

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The voluntary code aims to enhance transparency and improve comparability and reliability of ESG data and scores. The Monetary Authority of Singapore (MAS) has published a Code of Conduct for Providers of Environmental,...more

Latham & Watkins LLP

The Edinburgh Reforms - Where Are We Now?

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As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more

Cadwalader, Wickersham & Taft LLP

Financial Conduct Authority Publishes Draft Voluntary Code of Conduct for ESG Ratings and Data Product Providers

On July 5, an industry-led working group convened by the UK’s financial regulator published a draft voluntary code of conduct for ESG data and ratings providers (the Code). The Code would apply to all companies based in the...more

Cadwalader, Wickersham & Taft LLP

PRA to Consider Impact of Climate Change on Financial Stability

Under a proposed amendment to the UK’s Financial Services and Markets Bill, the Prudential Regulation Authority (PRA) could be empowered to review appropriate risk weighting and capital requirements associated with a...more

Latham & Watkins LLP

Singapore’s Green Finance Industry Taskforce Launches Final Consultation on Green and Transition Taxonomy

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The consultation seeks feedback on its “measures-based approach” to classifying industrial activities, as well as “Do No Significant Harm” criteria. The Green Finance Industry Taskforce (GFIT) was convened by the...more

Cadwalader, Wickersham & Taft LLP

Launch of Financial Services Committee Republican ESG Working Group

On February 3, the Chair of the House Financial Services Committee, Patrick McHenry, announced the establishment of a nine-person Republican ESG Working Group to “combat the threat to our capital markets posed by those on the...more

Cadwalader, Wickersham & Taft LLP

FCA Publishes Discussion Paper on Sustainability-Related Governance

On February 10, the UK’s Financial Conduct Authority (FCA) published a discussion paper titled “Finance for positive sustainable change: governance, incentives and competence in regulated firms.” The paper considers whether...more

Cadwalader, Wickersham & Taft LLP

NYC Comptroller and Pension Funds Advocate for Banks to Establish Interim Absolute GhG Emissions Targets

On January 2, the New York City (NYC) Comptroller, Brad Lander, the NYC Employees’ Retirement System, the NYC Teachers’ Retirement System, and the NYC Board of Education Retirement System, announced that they had submitted...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 11 2022

Schumer: Senate ‘Very Close’ To Passing SAFE Banking Act - “The House of Representatives passed the bill for the sixth time earlier this year.” Why this is important: The passage of the Secure And Fair Enforcement...more

Bilzin Sumberg

Banking Groups Protest Against Expected ESG Regulations

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We’ve provided insights previously about increased regulatory and litigation activity related to Environmental, Social and Governance (ESG) disclosures by companies to current and prospective investors. For those not yet...more

Nelson Mullins Riley & Scarborough LLP

[Event] Financial Services Conference - May 18th, Washington, DC

Please join us for the annual Nelson Mullins Financial Services Conference, which will feature a lineup of national speakers on the future of financial services....more

Jones Day

Australian Financial Services Regulatory Update - December 2021

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This edition of the Update covers: KEY LEGAL AND REGULATORY DEVELOPMENTS Regulatory Priorities ASIC and APRA Release Their Corporate Plans for 2021-25 On 26 August 2021, the Australian Securities & Investments Commission...more

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