The European Financial Reporting Advisory Group (EFRAG) has launched a public call for input (Call for Input) on 9 April 2025, seeking feedback from stakeholders and, in particular, from the first wave of preparers who applied the European Sustainability Reporting Standards (ESRS) in their 2024 Corporate Sustainability Reporting Directive
ESG
Changes on the Horizon for UK Alternative Investment Fund Management Regulation
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
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…
Regulation Round Up
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
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…
CSRD and CSDDD Officially Delayed, With Huge Majority of MEPs in Support
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 3 April 2025, the European Parliament voted to postpone the implementation dates for corporate sustainability due diligence and reporting requirements, as the first step in the European Commission’s “Omnibus” simplification package to reduce administrative requirements of companies and aimed to bolster the competitiveness of the European Union. With 531 votes for, 69 against and…
Momentum on Voting on the Omnibus Delay and Updating Corporate Sustainability Reporting Requirements
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
Vote to delay
On 1 April 2025, the European Parliament approved the “urgent procedure” with regards to the “Omnibus” package of proposals to streamline corporate sustainability requirements.
The next step to vote on the “stop-the-clock” proposal will take place on 3 April 2025.
The approval of the urgent procedure of the Omnibus passed with…
UK Financial Regulators Drop Diversity and Inclusion Rules but Keep Culture in Focus
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 11 March 2025, the UK’s financial regulators confirmed they have decided not to move forward with proposed diversity and inclusion (D&I) rules for financial firms. This decision in a letter by the Financial Conduct Authority (FCA) and a letter by the Prudential Regulation Authority (PRA) marks the end…
Parked: The Extension of the UK’s Sustainability Disclosure Requirements to Portfolio Managers
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 14 February 2025, the Financial Conduct Authority (the “FCA”) updated its webpage on consultation paper (CP24/8) on extending the sustainability disclosure requirements (“SDR”) and investment labelling regime to portfolio managers. In the update, the FCA confirmed that it no longer intends to do so and will continue to reflect on the feedback received and…
Streamlining Sustainable Finance: Simplification of the EU Taxonomy
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 5 February 2025, the EU Platform on Sustainable Finance (the ‘‘Platform’’) published a report with recommendations on how to simplify the EU Taxonomy (the ‘‘Report’’). The EU Taxonomy is the EU’s classification system for sustainable activities. The Report sets out key areas of improvement and simplification of taxonomy reporting by…
Regulation Round Up
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in January 2025:
31 January
UK Listing Rules: The FCA published a consultation paper (CP25/2) on further changes to the public offers and admissions to trading regime and to the UK Listing Rules.…
One week to go until HM Treasury’s UK Green Taxonomy Consultation closes
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
HM Treasury published the UK Green Taxonomy Consultation (the ‘‘Consultation’’) on 14 November 2024, and there is one week to go until the consultation window closes on 6 February 2025. The Consultation seeks views on the value of the UK government implementing a UK green taxonomy (the ‘‘Green Taxonomy’’) into its…