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By Jon Hay
02.00 AM
A new acronym is joining the sustainable finance lexicon the SRD. The EU’s Sustainability Reporting Directive will become the cornerstone of corporate reporting on sustainability, which is the foundation of responsible investing. A draft of it has been leaked, showing that it will impose much stricter rules on companies about reporting their environmental and social impacts, but also contains loopholes.
The SRD is the new name of the European Union’s Non-Financial Reporting Directive (NFRD), introduced in 2014, but being revised in a process that will go on for much of this year and possibly longer.“Overall, it’s good,” said Maria van der Heide, head of EU policy at
The European Commission published a
30 March
FSB”) published a
speech made by Randal Quarles, FSB Chair, that sets out details of the FSB s areas of focus for 2021.
European Securities and Markets Authority (“
ESMA”) published an updated version of its
Q&As (ESMA34-32-352) on the application of the Alternative Investment Fund Managers Directive (EU/2011/61) (“
AIFMD”).
HM Treasury published a
statement concerning the first meeting of the Joint Committee established under the UK-US bilateral agreement on insurance and reinsurance prudential measures.
ESMA published its
final report (dated 23 March 2021) (ESMA74-362-1013) on reference data and transaction reporting obligations under the Markets in Financial Instruments Regulation (600/2014) (“
ESG: Green, greener, greenest.
When the EU’s landmark Sustainable Finance Disclosure Regulation (SFDR) came into force on March 10, it was widely welcomed and hailed as a ‘game-changer’ in the fight against greenwashing.
A core component of the bloc’s green agenda, the regime is designed to promote greater transparency in finance – but questions remain regarding its implementation.
SFDR calls on asset managers to classify their funds according to three primary categories – article 6, which makes no claims of sustainability, or articles 8 and 9, which both claim environmental, social and governance (ESG) credentials and require firms to provide data to support the claims.
News
07 Apr 2021
The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – published today its 2020 Annual Report, providing a detailed account of all the joint work completed over the past year. Under the EBA Chairmanship, the Joint Committee played a pivotal role in 2020 to ensure close cooperation among the Authorities in the context of the COVID-19 pandemic. As part of the ESAs continued efforts in overseeing market developments and cross-sectoral risks, the Joint Committee also prepared the first cross-sectoral COVID-19 risk assessment.
In the past year, the Joint Committee also adapted to the amended scope of issues under its remit, as laid down in the revised ESAs’ Founding Regulation. Consumer protection remained a key priority with the finalisation of the Report including advice to the Commission under the PRIIPs Regulation. In addition, the Joint Committee delivered a substantial contribution to the development of the sustainab