On 4 May 2026, the European Parliament’s Economic and Monetary Affairs Committee (“ECON”) published its draft report (the “Draft Report”) on the European Commission’s proposed overhaul of the Sustainable Finance Disclosure Regulation (SFDR 2.0). The Draft Report includes a draft European Parliament legislative resolution setting out proposed amendments to the European
Financial Regulation
SEC Proposes Optional Semi-Annual Reporting Regime
By Frank Zarb, Louis Rambo & Simon J. Wood on
On May 5, 2026, the SEC proposed to permit public companies to file semiannual reports instead of quarterly reports. If adopted, companies subject to Exchange Act Section 13(a) or 15(d) that currently file quarterly reports on Form 10-Q could elect to file one semiannual report on new Form 10-S and one annual report on Form…
And… Score! Asset Managers’ Proprietary ESG Scoring Under Pressure from the EU ESG Ratings Regulation
The European Union’s ESG Ratings Regulation (the “Regulation”) will apply from 2 July 2026 and establishes a regulatory framework governing the provision of ESG ratings within the European Union. It introduces requirements relating to authorisation, governance, conflicts of interest and transparency, including public disclosures on rating methodologies (for example, via website disclosures).
Although primarily directed…
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.
Key developments in January 2026:
Asset Management / Wealth Management
2 February – Client Categorisation: The United Kingdom Financial Conduct Authority’s (“FCA”) consultation paper (CP25/36) on its proposals to amend the client…
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.
Key developments in December 2025:
Asset Management / Wealth Management
18 December – AIFMD 2.0 Liquidity Management Tools: European Securities and Markets Authority (“ESMA”) published an amended version of its guidelines on…
Cryptoassets Regulation in the UK Draft Legislation Published
On 15 December 2025, HM Treasury took a significant step towards establishing a UK regulatory regime for cryptoassets by laying the draft ‘Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2005’ (the “Draft Order”) before Parliament.
The Draft Order aims to set the statutory foundation for a new UK cryptoasset regulatory regime…
CSRD Agreed: A Major Recalibration of the EU Sustainability Reporting Regime
On 16 December 2025, the European Parliament adopted a significantly streamlined version of the Corporate Sustainability Reporting Directive (“CSRD”). This represents a very significant recalibration of the EU’s sustainability reporting regime.
CSRD’s evolution
The CSRD represents the EU’s flagship framework for mandatory sustainability reporting. Originally designed to apply to a broad range of EU and…
Edging Closer to CSRD Clarity on Scope
On 9 December 2025, negotiators from the European Parliament (EP), the Council of the European Union (the Council) and the European Commission reached a provisional political agreement on the final text of their “Omnibus” package amending the Corporate Sustainability Reporting Directive (CSRD).
Though the final text is not yet published, the publicly-available press-releases confirm a…
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.
Key developments in November 2025:
Asset Management / Wealth Management
17 November – Liquidity Management RTS: The European Commission has adopted Delegated Regulations containing regulatory technical standards (RTS) on liquidity management tools under the Alternative…
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in October 2025:
Financial Advice / Wealth Management
31 October – FCA Consolidation Review: The UK Financial Conduct Authority (“FCA”) published its findings following a multi-firm review of consolidation in the…