Practical, Experience-Based Insights on Financial Regulatory Developments
On 15 April 2025, the European Commission (the “Commission”) released new simplification measures relating to the EU Deforestation Regulation (“EUDR”) with the promise of ensuring a “simple, fair and cost-efficient implementation”. This is part of the Commission’s broader agenda for economic competitiveness and to reduce reporting burdens on businesses.
We recap…
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key Developments in April 2025:
29 April
ESG: The FCA updated its webpage on its consultation paper on extending the sustainability disclosure requirements (“SDR”) and investment labelling regime to portfolio managers (CP24/8).
On 2 May 2025, the European Commission launched its ‘Call for Evidence’ on the review of the Sustainable Finance Disclosure Regulation (SFDR).
The European Commission aims to review the SFDR to simplify the framework, enhance usability, and prevent greenwashing. Stakeholders are invited to submit general feedback rather than answer specific questions…
European regulators have taken different routes as to how they plan to enforce the European Securities and Markets Authority’s (“ESMA”) guidelines (the “Guidelines”) with respect to the use of sustainability‑related terms in fund names. The deadline to implement these changes for existing funds is by 21 May 2025 and has applied to…
On 15 April 2025, the sustainability reporting board (“SRB”) of the European Financial Reporting Advisory Group (“EFRAG”) failed to agree to an internal timeline for delivering advice to the European Commission on the simplification of the European Sustainability Reporting Standards (“ESRS”), which is at the centre of the Corporate Sustainability…
On 15 April 2025, the European Securities and Markets Authority (“ESMA”) published draft regulatory technical standards (the “Draft RTS”) and final guidelines (the “Guidelines”) on Liquidity Management Tools (“LMTs”), as required under the revised Alternative Investment Fund Managers Directive (EU/2024/927) (“AIFMD 2.0”).
Under AIFMD 2.0…
Background
In February 2023, the United Kingdom Financial Conduct Authority (“FCA”) published a discussion paper (DP23/1) to encourage an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence (the “Discussion Paper”).
On 2 April 2025, the FCA published a summary of the feedback received on the Discussion Paper, as well as…
On 14 April 2025, the Council of the European Union (the “Council”) has given the greenlight for the “Stop-the-clock” proposal, which will postpone the application of sustainability reporting and diligence requirements. This marks the final approval for delaying the application of the Corporate Sustainability Reporting Directive (“CSRD”) and Corporate…
On 7 April 2025, HM Treasury published a consultation to overhaul the regulation of Alternative Investment Fund Managers (“AIFMs“) in the United Kingdom (“Consultation“). The Financial Conduct Authority (“FCA“) has published a call for input alongside the Consultation (“Call for Input“), which indicates its approach to regulating…
Key developments in March 2025:
31 March
Securitisation: The Joint Committee of the European Supervisory Authorities (“ESAs”) published a report on the implementation and functioning of the Securitisation Regulation (2017/2402)
27 March
FCA…
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