- a Policy Statement regarding a change to its Code of Conduct (COCON); and
- a Consultation on additional guidance in the COCON and the Fit and
New FCA Conduct Rule and Consultation on Non-Financial Misconduct Guidance
ESG & Corporate Governance: a checklist for firms and their boards
The PRA’s recent Consultation Paper (CP10/25) on enhancing banks’ and insurers approaches to managing climate-related risks provides clearer guidance on the PRA’s expectations with regards to governance in this evolving area (with potential read-across for other types of risks and for a range of different firms). Set out below is a checklist of
Omnibus I ‘Stop-the-clock’ Directive published in OJ
On 16 April 2025, Directive (EU) 2025/794 of 14 April 2025 amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements was published in the Official Journal of the EU.
The Directive, which is known as the ‘Stop-the-clock’ Directive
Key takeaways for regulatory investigations lawyers from the Regulatory Initiatives Grid
- ‘Name and shame’ proposal: The new RIG reflects the FCA’s 11 March 2025 letter to the Treasury Select Committee
European Commission consults on review of the ETS Directive
On 15 April 2025, the European Commission (“the Commission”) launched a public consultation on a review of Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union (ETS Directive) and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission
EBA publishes benchmarking report on remuneration and the gender pay gap
On 15 April 2025, the European Banking Authority (EBA) published its benchmarking report on remuneration and gender pay gap for institutions and investment firms.
Background
The EBA collects remuneration and gender pay gap data from national competent authorities for benchmarking under the Capital Requirements Directive and the Investment Firms Directive (IFD)
Council of the EU adopts ‘Stop-the-clock’ Directive under Omnibus I package
On 14 April 2025, the Council of the EU formally adopted the ‘Stop-the-clock’ Directive under the Omnibus I package. The Directive postpones the dates of application of certain corporate sustainability reporting and due diligence requirements, as well as the transposition deadline of the due diligence provisions.
The Omnibus I package was adopted by the European
FCA sends a clear message on non-financial misconduct
On the same day as HM Treasury’s publication of an action plan setting out a ‘new approach’ to ensure regulators support growth, the Financial Conduct Authority (FCA) has sent a clear message to the financial services industry that it is prepared to tackle non-financial misconduct which it considers demonstrates a lack of integrity
FCA drops ‘name and shame’ and D&I proposals: key takeaways for firms
- to implement a new public interest test for announcing investigations into regulated firms (known as the ‘name and shame’