Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime). The rules and guidance are currently limited to UK asset managers and essentially the requirements comprise of two components

Sebastien Praicheux
Regulation Around the World – Investment Research
In the latest instalment of our Regulation Around the World series, Financial Services partners in over 10 jurisdictions review recent steps that financial services regulatory authorities have taken as regards investment research.
Our global updater is accompanied by further analysis and insights in our Regulation Around the World podcast which is available now to stream…
New briefing note – Retail Investment Strategy: Restoring Consumer Trust by Shrinking the Investment Universe?
On 24 May 2023, the European Commission published its Retail Investment Strategy (RIS), a legislative package intended to empower retail investors to take more informed investment decisions that would better correspond to their investment needs and objectives.
The RIS comprises of a Directive as regards the EU retail investor protection rules. This Omnibus…
Published in OJ – Directive and Regulation to improve MiFID II market data access and transparency
On 8 March 2024, the following were published in the Official Journal of the EU:
- Directive 2024/790 of 28 February 2024 amending MiFID. The Directive enters into force on the twentieth day following its publication in the Official Journal of the EU (OJ) (28 March 2024). Member States shall bring into force
ESG webinar series: SDR vs SFDR and the increasing risk of greenwashing
On 29 February 2024, members of the Norton Rose Fulbright Risk Advisory and Financial Services team hosted the first in our three part webinar series on ESG.
In this first instalment of the webinar series the team provided an analysis into the SFDR vs the SDR. In addition, the team looked closely at the increasing…
New briefing note – CRD VI: Third country branches and subsidiaries
In our latest briefing, we summarise new changes to the third country branch and subsidiary regime being proposed by the CRD VI.
New briefing note – CSDR REFIT – Key changes
The Central Securities Depositories Regulation (CSDR) is the EU regulation relating to securities settlement and central securities depositaries (CSDs). It applies to CSDs that are based in the EU and their participants. The CSDR entered into force in September 2014 and many of its requirements were staggered. It standardises the requirements…
Regulation Tomorrow Plus: EMEA regulatory insights series – 2024 horizon scanning – EU
In this latest episode of our EMEA regulatory insights series colleagues from Brussels, Netherlands, Germany, France and Luxembourg provide their thoughts and insights on what 2024 holds from a financial services regulatory perspective.
The podcast can be found here.
Updated AIFMD guides: The marketing passport and the requirements for fund managers across the EU
We have now updated our two guides on the Alternative Investment Fund Managers Directive (AIFMD), which has now been in force for some time. Both guides are now in their sixth iteration.
The first guide considers whether the AIFMD marketing passport is working in practice and is a useful tool for managers as…