On 4 September 2023, the European Central Bank (ECB) published the keynote speech, given by Frank Elderson, Member of the ECB Executive Board and Vice-Chair of the ECB Supervisory Board, delivered at the ECB legal conference. The speech addressed the risks of climate and environment-related litigation for the banking sector.
In his
In our latest Regulation Tomorrow Plus podcast, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss the key points covered in the FCA’s recent portfolio letter to CEOs of ‘principal trading firms’ and consider the next steps.
On August 23, 2023, the Securities and Exchange Commission adopted highly controversial new rules and rule amendments to the Investment Advisers Act of 1940 in an effort to further regulate the private funds industry. These new rules attempt to “increase transparency, competition and efficiency in the private funds market.” Our client update can be found
On 4 September 2023, the European Systemic Risk Board (ESRB) published an issues note on policy options to address risks in corporate debt and real estate investment funds from a financial stability perspective.
The issues note sets out a high-level approach to addressing risks in investment funds that invest in assets which are
On 1 September 2023, the Green Technical Advisory Group (GTAG) published the following reports:
The report provides advice on the benefits and implications of adapting the coverage of the UK Green Taxonomy
On 1 September 2023, the FCA issued a statement on its website providing an update on its assessment of what value firms’ savings products offer.
The FCA has required nine firms to provide it with their assessments of what value their savings products offer. The assessment follows the introduction of the Consumer Duty which requires
On 1 September 2023, the FCA published Consultation Paper 23/18 ‘Quarterly Consultation No. 41’ (CP23/18).
Among other things in CP23/18 the FCA is proposing to amend Supervision Manual (SUP) 12.4.10AR to clarify that it is the principal firm that must obtain and maintain continuous professional indemnity insurance (PII) cover