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A regular briefing for the alternative asset management industry. 

In July 2022, the FCA published its review of the climate-related disclosures of premium listed commercial companies, for the first time since the rule mandating such disclosures was introduced for a wider range of listed issuers on 1 January 2022.

Our ESG timeline archive sets out past UK and EU legal and regulatory developments relating to ESG and wider sustainable business topics from January 2021 onwards. As with the main timeline, the timeline archive can be filtered according to your business type or the relevant ESG theme.

The FCA published its much-anticipated Policy Statement on "Improvements to the Appointed Representatives regime" (PS22/11) on 3 August 2022. This Policy Statement follows the FCA's Consultation Paper on the same topic (CP21/34), published in December 2021.

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On 9 August 2022, the FCA issued its latest portfolio letter (Letter) to alternative asset management firms setting out its supervisory priorities.

The UK Government has published its much anticipated Financial Services and Markets Bill (the Bill),  previously touted by the former Chancellor as "Big Bang 2.0". The Bill as introduced may or may not be that, but it certainly includes a large number of substantial measures that will effect a major overhaul of the UK's regulatory framework for financial services. 

On 25 July 2022, Commission Delegated Regulation (EU) 2022/1288, consisting of the Regulatory Technical Standards (RTS) under the EU Sustainable Finance Disclosure Regulation (SFDR), was published in the Official Journal.

A regular briefing for the alternative asset management industry. 

Welcome to the second episode in our Spotlight on ESG video series. 

A regular briefing for the alternative asset management industry. 

The salaried members rules were introduced in 2014 to counter situations where UK limited liability partnerships (LLPs) were avoiding employment taxes by making junior workers members (rather than employees) without bearing the risks, rewards and responsibilities typically associated with partnership. Under the rules, members of an LLP are treated as  employees for tax purposes, unless one of three exclusions apply.

A regular briefing for the alternative asset management industry. 

The European Council has issued its general approach (General Approach) on the European Commission's proposals to amend the existing Alternative Investment Fund Managers Directive (AIFMD II). 

Last month, the UK Government set out its legislative programme for this Parliament in the Queen's Speech. In this briefing, we look at some of the proposals relevant to business which have had less media attention.

A regular briefing for the alternative asset management industry. 

On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing (the Supervisory Briefing) addressed to EU national competent authorities (regulators) to promote "common supervisory practices" on the EU Sustainable Finance Disclosure Regulation (SFDR) and other pieces of EU legislation concerning financial sustainability. This was closely followed on 2 June 2022 by a publication of the European Supervisory Authorities – one of which is ESMA - (ESAs) which sets out clarifications (the ESA Clarifications) on the draft regulatory technical standards (RTS) under SFDR.

On 7 June 2022, HM Treasury issued its Response (Response) to its consultation in July 2021 on a Senior Managers & Certification Regime (SMCR) for financial market infrastructures (FMIs).

On 25 May 2022, the European Commission (Commission) issued its response to the  European Supervisory Authorities' (ESAs) questions on the interpretation of the Sustainable Finance Disclosure Regulation (SFDR) and the Taxonomy Regulation (Taxonomy Regulation) of 13 May 2022.  

A regular briefing for the alternative asset management industry.