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UK Sustainability Disclosure Framework – New FCA Greenwashing Rules under consultation

By Sam Eastwood, Musonda Kapotwe, Peter Pears, Chris Chapman, J. Paul Forrester, Liang Pu, Tim Baines & Oliver Williams on November 8, 2022

Posted in Disclosures, Governance, Regulation

The UK’s financial regulator – the Financial Conduct Authority (“FCA“) – on 25 October 2022, published its “Sustainability Disclosure Requirements (“SDR“) and investments labels” Consultation Paper (CP 22/20) (the “Consultation Paper“).

This follows the FCA’s July 2021 “Dear AFM Chair” letter regarding improving the quality and clarity of authorised…

UK Regulator to Prioritize Diversity and Inclusion for the Financial Services Industry

By Chris Chapman, J. Paul Forrester, Mark Uhrynuk & Alexander W. Burdulia on March 22, 2021

Posted in EMEA, Regulation, Social

In a speech on March 17, 2021, the CEO of the UK’s Financial Conduct Authority (FCA), Nikhil Rathi, highlighted how the financial services regulator is prioritizing diversity and inclusion (D&I) initiatives in the near term. Speaking at the launch of the HM Treasury Women in Finance Charter Annual Review, Mr. Rathi outlined why D&I is a key consideration for the FCA, noting that:

“We care because diversity reduces conduct risk and those firms that fail to reflect society run the risk of poorly serving diverse communities. And, at that point, diversity and inclusion become regulatory issues.”

Key steps the FCA is now taking on D&I include:

Working with the Prudential Regulation Authority (PRA) on a joint approach to D&I for all financial services firms; and
Considering whether to make diversity requirements a part of the FCA’s premium listing rules, similar to the approach taken by NASDAQ in the US.

Continue Reading UK Regulator to Prioritize Diversity and Inclusion for the Financial Services Industry