On October 22, the European Commission (Commission) launched its formal public consultation (Consultation) on its review of the Alternative Investment Fund Managers Directive (AIFMD).

The Consultation follows the Commission’s June 10 report on the application and scope of the AIFMD (see the June 12, 2020 edition of Corporate & Financial Weekly Digest) and aims to achieve a more efficient, effective and competitive European market for alternative investment funds (AIFs) as a part of a stable financial system. The Consultation also notes that it may result in adjustments the existing European mutual fund rules (UCITS).
Continue Reading AIFMD II – European Commission Consultation on AIFM Directive Review

On September 21, the European Supervisory Authorities (ESAs) published a survey setting out the details on mandatory disclosure templates on sustainability‐related disclosures in financial services (the Survey).
Continue Reading ESG: EU Survey on Mandatory Disclosure Templates for Use by Financial Services Firms

On August 19, the European Securities and Markets Authority (ESMA) published a letter it sent to the European Commission on its proposed areas of recommendation for the upcoming review of the Alternative Investment Fund Managers Directive (AIFMD).

Since AIFMD’s implementation in 2011 and as a result of the COVID-19 pandemic, ESMA and EU financial regulators have identified areas of improvement to AIFMD. The review provides an opportunity for their recommendations to be enacted.
Continue Reading ESMA Publishes Letter to the European Commission on the AIFMD Review

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 March 10, the United Kingdom’s Treasury Select Committee (TSC) released letters written to the CEO of the UK’s Financial Conduct Authority (FCA) and the Governor of the Bank of England (the Bank) and the responses to those letters. The TSC wrote to the FCA and the Bank in October 2019 and February respectively, and the responses were received in late-February.
Continue Reading Environmental, Social and Governance (ESG): TSC Releases Correspondence with UK Regulators

On February 6, the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance (the Strategy). This continues work initiated by the European Commission (the Commission) concerning sustainable finance and the incorporation of environmental, social and governance (ESG) factors into European financial services (for more information, please see the January 10 edition of Corporate & Financial Weekly Digest).
Continue Reading ESG: ESMA Publishes Strategy on Sustainable Finance

On January 16, the House of Lords European Union Committee published a letter from the Chair, Lord Kinnoull, to John Glen, Economic Secretary to Her Majesty’s Treasury (the Letter). The Letter concerns the recently published Taxonomy Regulation (for more information please see the January 10 edition of Corporate & Financial Weekly Digest).
Continue Reading ESG and Sustainable Investments: House of Lords EU Committee Queries Taxonomy Regulation With HMT