On June 12, 2025 the Securities and Exchange Commission (“SEC”) formally withdrew fourteen outstanding rule proposals issued by the prior administration. Although most observers doubted that the current Commission would adopt these proposals, the SEC’s action confirms that any future rulemaking on these topics must start anew with a new proposal and a fresh opportunity
Financial Regulation
FCA Outlines Next Steps on Potential Motor Finance Redress Scheme
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 5 June 2025, the United Kingdom’s Financial Conduct Authority (“FCA“) has published a statement (“Statement“) setting out its current thinking on the possible implementation of a redress scheme for motor finance customers who may have been affected by discretionary commission arrangements (“Redress Scheme”).
This follows the FCA’s earlier…
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 May 2025:
30 May
Trade Settlement: The Financial Conduct Authority (“FCA”) published a press release on the faster settlement of trades in funds.
29 May
FCA Regulation Round‑up: The FCA…
Beyond the Forest: Navigating the EU’s Deforestation Rules
By John Verwey, Rachel Lowe, Michael Singh & Sulaiman Malik on
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…
Regulation Round Up
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).
Final opportunity to shape SFDR’s future in European Commission’s Call for Evidence
By Rachel Lowe, John Verwey, Michael Singh & Sulaiman Malik on
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…
EU Regulators Take Different Enforcement Paths for ESMA ESG Fund Name Guidelines
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
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…
CSRD’s ESRS Draft Work Plan Faces Rejection At Latest EFRAG Meeting
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
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…
AIFMD 2.0 – Draft RTS and Final Guidelines Published on Liquidity Management Tools
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
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…
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…