The funds industry continues to wait for regulators and legislators to review and fix the multiple flaws in the existing SFDR regime. In the meantime, in July 2023, ESMA launched a “common supervisory action” ("CSA”)...more
On 21 October 2024, the Commission de Surveillance du Secteur Financier (CSSF) implemented the European Securities and Markets Authority (ESMA) Guidelines regarding environmental, social, and governance (ESG) fund naming as...more
The European Securities and Markets Authority has published three sets of Q&As to provide further detail on the guidelines on funds which use ESG or sustainability-related terms in their names. The guidelines relate to...more
On 13 December 2024, ESMA published three new questions and answers ("Q&As") which provide welcome clarification on the application of some key elements of its Guidelines on funds' names using ESG or sustainability-related...more
The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more
Mit Meldung vom 25. Juli 2024 hat die BaFin mitgeteilt, dass sie die Leitlinien für Fondsnamen der Europäischen Wertpapier- und Marktaufsichtsbehörde (ESMA) in Ihrer Verwaltungspraxis berücksichtigen wird. Diese werden die...more
Background - On 23 May 2024, Ashley Alder, the Chair of the UK Financial Conduct Authority (“FCA”), delivered a speech which outlined the regulator’s agenda for the asset management sector (the “Speech”). In particular,...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
Partners Niall Esler and Shane Martin, along with senior associate Conor Daly and trainee solicitor Coleen Wegmann, have authored the Ireland chapter for Global Legal Insights Fintech 2023. They provide an up-to-date summary...more
Challenges create opportunities and the environmental and social challenges we currently face are no exception. In this paper we consider the opportunities provided by sustainable finance, and more specifically impact...more
On 31 May 2022, the European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2022 were published in Iris Oifigiúil and will come into operation on 1 January 2023. The...more
"It can‘t go on like this!" This statement is not only made by the young people who pass by the windows of our office every Friday morning. In fact, this statement was already made binding by the Paris Climate Change...more
FCA regulatory sandbox: new application guide and now always open The Financial Conduct Authority (FCA) has published a new guide to assist firms making a regulatory sandbox application. The FCA has also updated its webpage...more
The German Federal Financial Supervisory Authority ("BaFin") has published a consultation on draft guidelines for sustainable investment funds containing specifications on what UCITS and AIF management companies must include...more
Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more
1. New EU and UK disclosure requirements - The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European...more
The EU sustainable finance market has developed organically, guided by voluntary but universally accepted principles. According to recent research, climate change could cost up to 19 per cent. of Global GDP by the end of...more