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On May 7, the Financial Conduct Authority (FCA) published a consultation paper on a new UK-authorized fund regime for investing in long-term assets (CP21/12). These assets are often called productive finance and include venture capital, private equity, private debt, real estate and infrastructure investments.…
Continue Reading FCA Consults on New Authorized Fund Regime for Investing in Long-Term Assets

On April 29, the Financial Conduct Authority (FCA) published a discussion paper (DP21/1) on strengthening its financial promotion rules for high-risk investments and firms approving financial promotions.…
Continue Reading FCA Publishes Discussion Paper on Strengthening Financial Promotion Rules for High-Risk Investments and Firms Approving Financial Promotions

On April 22, the House of Commons Treasury Committee (Committee) published a report on net zero and the future of green finance in the UK (the Report) along with a press release.

The key recommendations proposed by the Committee to achieve net-zero in the UK by 2050 include:…
Continue Reading UK Treasury Committee Publishes Report on Net Zero and the Future of Green Finance

On April 23, the Financial Conduct Authority (FCA) published a new webpage on its strategic approach to climate change and sustainable finance.

The FCA explains it will continue to broaden and deepen its sustainable finance strategy, which is based on the themes of transparency, trust, and tools, as set out in its previous feedback statement (FS19/6).…
Continue Reading FCA Webpage on Climate Change and Sustainable Finance

On April 28, the Financial Conduct Authority (FCA) launched a consultation paper (CP21/9), alongside HM Treasury, on changes to the conduct and organizational rules in the UK Markets in Financial Instruments Directive (MiFID II): research and best execution reporting.

The consultation proposes to:…
Continue Reading FCA Consults on Changes to Conduct and Organizational Rules Under UK MiFID

On April 5, the Securities and Exchange Commission voted to take two actions in the implementation of security-based swap regulation under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).…
Continue Reading SEC Issues Notice of Substituted Compliance Application and Proposed Substituted Compliance Order for United Kingdom and Reopens Comment Period for Notice and Proposed Substituted Compliance Order for France

On April 6, the UK Financial Conduct Authority (FCA) announced that legal entity identifiers (LEIs) of non-EEA third country issuers will not need to be reported under the UK version of the European Union’s Regulation on reporting and transparency of securities financing transactions (UK SFTR), until at least April 13, 2022.…
Continue Reading FCA Update on Reporting LEIs of Non-EEA Third Country Issuers Under UK SFTR