On May 11, the International Capital Market Association’s (ICMA) Sustainable Finance Committee published a report setting out its proposed high-level definitions for the most frequently used terminology in the sustainable finance sector (the Report).
Continue Reading ICMA Publishes a Report on Definitions for Sustainable Finance

Katten is continuing our weekly, 15-minute fireside chat series featuring London partners Carolyn Jackson, Nathaniel Lalone and Neil Robson on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. Please join us for our second installment Tuesday, May 12, at 1:00 p.m. Eastern / 6:00 p.m. London time.
Continue Reading London Weekly Fireside Chat

On April 30, the Bank of England (BoE) and the UK’s Prudential Regulation Authority (PRA) published a joint statement, and the UK’s Financial Conduct Authority (FCA) published a statement on HM Treasury’s proposed use of the UK financial services regulators’ temporary transitional power (TTP) for up to two years after the end of the Brexit transitional period in December 2020 (the Statements). 
Continue Reading BoE, FCA and PRA Statements on Regulators’ Temporary Transitional Power

On May 4, the House of Commons EU Scrutiny Committee (the Committee) published a letter to HM Treasury on the proposed regulation (the Taxonomy Regulation) on the establishment of a framework to facilitate sustainable investment (the Letter).
Continue Reading ESG: House of Commons EU Scrutiny Committee Letter Regarding the Taxonomy Regime

On May 6, the Financial Conduct Authority (FCA) published a statement on the modification by consent (the Modification) in relation to the Senior Managers and Certification Regime (SM&CR) to extend the maximum period firms can arrange cover for absent senior managers as a result of the COVID-19 pandemic (the Statement).
Continue Reading FCA Statement on Modification by Consent in Relation to SM&CR

On May 7, the Bank of England (BoE) published an interim financial stability report setting out its view of the performance of the UK’s financial system during the COVID-19 pandemic and the outlook for the UK’s financial stability, including its assessment of the resilience of the UK financial system (the Financial Stability Report).
Continue Reading BOE Publishes its Interim Financial Stability Report and Quarterly Monetary Policy Report

On April 27, five industry trade associations, including the International Swaps and Derivatives Association, the Association for Financial Markets in Europe, the Asia Securities Industry and Financial Markets Association, the Global Financial Markets Association and the Securities Industry and Financial Markets Association published a joint letter (the Letter) to the European Securities and Markets Authority (ESMA) regarding the effective date for the commencement of the mandatory delegated reporting obligation for financial counterparties (FCs) under the EMIR Refit Regulation (EMIR Refit) in light of the COVID-19 pandemic.
Continue Reading ISDA Letter to ESMA on Mandatory Delegated Reporting under EMIR Refit

On April 28, the European Commission (the Commission) published an interpretative communication on the application of the accounting and prudential frameworks to facilitate European Union (EU) bank lending, support the EU economy and help mitigate the impact of the COVID-19 pandemic (the Communication).
Continue Reading EC Adopts a New Set of Measures in Response to the COVID-19 Pandemic