26 February
The Financial Conduct Authority (“
FCA”) published Handbook Notice 85, which sets out changes to the FCA Handbook made by the FCA Board on 25 February 2021.
The Financial Action Task Force (“
FATF”) published a document setting out the outcomes from its plenary meeting on 22, 24 and 25 February 2021.
The FCA published a report on its review of product governance in a sample of asset management firms.
The European Securities and Markets Authority (“
ESMA”) issued a press release announcing the publication of revised version of its Q&As on the EU Securitisation Regulation.
ESMA published a consultation paper on draft technical standards under the Regulation on European crowdfunding service providers for business ((EU) 2020/1503) (“
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The steady rise of ESG investing
With ethical funds gaining popularity over the years, are the returns good enough for long-term investors?
By Charles Younes 2
nd March 2021 12:17 pm
Last year was difficult for investors. Global markets collapsed in March as countries locked down. Donald Trump ended his US presidency with the same political instability that had marked much of his term. And, despite a glimmer of hope towards the end as several vaccines were approved, Covid-19 retained its grip.
Despite all of this, environmental, social and governance-focused investing kept growing its appeal both among investors and in the press. With the Sustainable Finance Disclosure Regulation coming into force this month, we can expect to hear a lot more about ESG funds this year.
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Recent regulatory developments of interest to all financial institutions, including updates from the UK, EU and the FSB. See also our sector specific updates in the Related Materials links.
Contents
Pension freedoms: Work and Pensions Committee call for evidence
Fair treatment of vulnerable consumers: FCA FG21/1
MoU between FCA and EHRC
UK CRD: PRA statement on definition of higher paid material risk taker
Transforming data collection from UK financial sector: BoE plan
End of Brexit transition period: EU publishes draft GDPR and LED adequacy decisions
EU PEPP Regulation: European Commission adopts Delegated Regulations on supervisory reporting and product intervention
Resistance is futile: Investors must embrace ESG regulations and the opportunities they provide
Deep Dive into ESG – regulation
Camilla Ritchie of 7IM
Once upon a time, many investors viewed ESG as being like an unwanted door-to-door salesperson. Ignore the noise and hope he or she goes away.
Those days are past. It is the regulators who are knocking on the door, and they want us to take environmental, social and governmental issues seriously when we invest. We will have to do what we are told.
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On 4 February 2021,
1 less than six weeks before the 10 March 2021 date on which the main operative provisions of the Sustainable Finance Disclosure Regulation (
SFDR)
ESAs) published their final report on the draft level 2 regulatory technical standards (the
Revised
3 (the
April 2020 RTS) and launched a consultation on their content. The ESAs noted in the Revised RTS that they had received significant feedback from stakeholders on the April 2020 RTS. In this ESG Legal Update we highlight some of the key points of the Revised RTS as well as looking at some of the differences between the April 2020 RTS and the final draft Revised RTS.