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FCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read moreThe EU Compliance headache you don't know you have? A priority primer on the European Accessibility Act
It is now less than a year until the EU Accessibility Act (EAA) comes into force, which will require businesses to ensure a range of products (eg smartphones and computers) and services (eg e-commerce services, consumer banking services, and ebooks) are accessible for persons with disabilities.
Read moreSeeing the wood for the trees: preparing for new deforestation due diligence rules in the UK and EU
Read moreGreen claims update: July 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreThe Corporate Sustainability Due Diligence Directive expert briefing
The Corporate Sustainability Due Diligence Directive (CSDDD) was adopted on 24 May 2024 and was published in the Official Journal of the EU on 5 July. This means the law will enter into force 20 days later on 26 July, and will apply to companies from 2027.
Read moreGreen claims update: June 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreEnvironmental sustainability: a snapshot of a changing regulatory landscape
Sophie Tuson charts the key legal developments in the UK and EU across the product lifecycle and flags practical considerations for businesses.
Read moreFCA consults on new reporting obligations for (i) incidents and (ii) third party arrangements
On 13 December 2024, the FCA published consultation paper CP24/28 (the CP) on proposals for firms to report on operational incidents and, separately, on material third party arrangements. The CP mirrors similar proposals put forward by the PRA and Bank of England on the same day and is designed to align with current international standards (e.g. the EU Regulation on digital operational resilience (DORA)).
Read morePrivacy developments – looking back and looking forward
In this article, we give you a high-level snapshot of the key data protection and privacy developments in the UK and EU in 2024 as well as developments we anticipate for 2025.
Read moreDigital operational resilience: the UK regulatory landscape
Operational Resilience in the supply chain has become an undeniable priority for all financial service providers across the continent.
Read moreClientEarth challenges claims made by BlackRock in its sustainable funds
Not only are regulators clamping down on greenwashing but, as previously highlighted, ClientEarth, a non-profit international environmental law organisation, also has this issue squarely in its sights.
Read moreGovernment consults on regulation of Buy-Now Pay-Later products
In 2021, HM Treasury announced its intention to regulate certain unregulated buy-now pay-later (BNPL) products in the UK. This followed recommendations made in the Woolard Review which raised concerns about the increased use of BNPL products during the pandemic and the significant risk that these unregulated credit products could cause consumer harm.
Read moreFCA consults on changes to the payments safeguarding regime
Under the Payment Services Regulations 2017 (PSRs) and the E-Money Regulations 2011 (EMRs) payment institutions (PIs), electronic money institutions (EMIs), small EMIs and credit unions are required to protect "relevant funds" which they receive when making a payment or in exchange for e-money that has been issued. Current safeguarding requirements are set out in the PSRs and EMRs, with guidance contained in the Financial Conduct Authority's (FCA) Approach Document.
Read moreUncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?
New regulations coming on 7 October 2024 will force payment firms to reimburse victims of authorised push payment (APP) fraud up to a set limit. On 4 September 2024, the Payment Systems Regulator (PSR) announced a consultation proposing to set this limit at £85,000, vastly reduced from the previously proposed £415,000 cap. This is a potential headache for insurers as the level of the cap will impact assessment of risk and apportionment of liability between sending and receiving payment firms – and the industry will only have 7 days to prepare.
Read moreFurther welcome news from the FCA – this time on co-manufacturing
Following on from our earlier blog, our review of the FCA's 'Discussion Paper' (DP24/1) continues, this time considering the rules relating to co-manufacturers of insurance products.
Read morePotential deregulation and a pragmatic approach to commercial insurance – welcome news from the FCA
The FCA has published a 'Discussion Paper' (DP24/1) seeking feedback on its rules on commercial insurance including in respect of the types of commercial customers in-scope, co-manufacturing of products and bespoke insurance products.
Read moreNew Labour government – what is in store for the UK?
We have a new Labour Party government for the first time in 14 years. The new government has already made various announcements, with more set to follow in the coming days, and then we have the King’s Speech on 17 July, when the Labour Party will set out its opening legislative agenda – but what can we expect from the new government impacting services regulated by the Financial Conduct Authority, pensions and accountants?
Read moreAdams v Carey – where does the Court of Appeal's decision leave the SIPP market?
The Court of Appeal has today dismissed Mr Adams' appeal against Carey in respect of COBS 2.1.1R. However, the appeal in relation to s.27 FSMA has been upheld. We discuss the background to the proceedings, the Court of Appeal decision and where it takes the SIPP (and wider financial services) market.
Read moreArchitects' Code reforms – it's important that you have your say!
The Architects Registration Board (ARB) is consulting on a proposed new code of professional conduct for architects. The proposed new Code is shorter and simpler, but may be more complex to apply and more onerous. Architects should consider responding to the consultation by the deadline of 12 December 2024.
Read moreThe Week That Was - 20 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 13 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 6 September 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 30 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreRICS disciplinary process: an overview for surveyors
Download our complete guide to the procedure involved in a disciplinary investigation against a chartered surveyor.
Read moreThe Week That Was - 23 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreThe Week That Was - 16 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
Read moreConstruction and Engineering Law 2024
We are delighted to have contributed once again to ICLG's Construction and Engineering Law guide for 2024. The comprehensive guide delves into the multifaceted world of construction and engineering law, providing an essential reference for understanding and comparing the handling of common legal challenges across various jurisdictions.
Read moreConstruction disciplinary trends analysis #3: fraud and dishonesty
This article is the third instalment in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreConstruction disciplinary trends analysis #2: engagement letters – worth more than the paper they're written on!
This article is the second in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreConstruction disciplinary trends analysis #1: continuing professional development
This article is the first in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreGreen claims update: December 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreNavigating risk in the energy transition (With Joe Dutton)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Joe Dutton, Energy Innovation Lead, at AXIS and in this episode they discuss a recent report Joe co-wrote, Navigating Risk in the Energy Transition.
Read moreGreen claims update: October 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreThe insurance of systemic risks (Trevor Maynard)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Trevor Maynard, Senior Insurance Advisor at Insurtech Sotera and Vice Chair and Executive Director at Cambridge Centre for Risk Studies. In this episode they discuss systemic risks.
Read moreNavigating retail's sustainable revolution as ESG shapes the industry's future
As the retail regulatory landscape continues to develop at pace and affordability and sustainability remain important for consumers, ESG poses a variety of opportunities and challenges for those in the retail and consumer market.
Read moreSustainability and insurance (with Rachel Delhaise)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Rachel Delhaise, Head of Sustainability at Convex Insurance. In this episode they discuss her role as Head of Sustainability and what that means for insurance.
Read moreGreen claims update: September 2024
Welcome to our round-up of the key legal and regulatory developments relating to green claims.
Read moreNavigating the ISSB’s sustainability disclosure standards: practical insights
The global sustainability reporting landscape is evolving fast. In 2025, the UK government will consult on new sustainability reporting standards for large and listed companies based on the ISSB’s sustainability disclosure standards.
Read moreStaying green and true: navigating the new FCA anti-greenwashing rule
In an era where sustainability is now firmly on the investor agenda and under increasing scrutiny, the FCA has recently introduced a new 'anti-greenwashing' rule to prevent firms from exaggerating the green or social credentials of their products and services. The implications of the new rule are significant, with the risk of regulatory action and civil claims for non-compliance. Against this backdrop, IR professionals can play a key role in helping ensure transparency with investors, raising the firm's profile in the sustainability space and mitigating legal risk.
Read moreThe EU's Green Claims Directive
The EU's proposed Green Claims Directive (GCD) sets out expansive new rules for companies making green claims in the EU.
Read moreContext is everything – key takeaways on green claims from the CMA's recent consumer law conference
On 28 June 2023, the Competition and Markets Authority (CMA) held a highly anticipated conference on consumer law and enforcement. RPC's Senior Partner Oliver Bray was invited to speak on green claims alongside a stellar panel comprising Anna Jewitt (CMA), Justine Grimley (Advertising Standards Authority (ASA)), Tim Rowe (Financial Conduct Authority), and Rupert Earle (Bates Wells).
Read moreClimate-related financial disclosures: what companies and LLPs need to know about the UK's new mandatory rules
The UK's new climate-related financial disclosures: mandatory requirements to come clean
Read moreHow to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read moreA look at climate insurance (With Richard Matsui)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Richard Matsui, Co-founder of kWh Analytics, and they will be discussing the insurance of renewable energy sources with a particular focus on solar power.
Read more'Big Plastic' is an emerging climate risk and a ticking time-bomb for litigation
The tangible commitment to plastics regulation and action will likely trigger a new wave of plastics-related litigation.
Read moreInsurers need their own Hippocratic Oath
Does insurance have a role to play in setting the ethical standard for corporate ESG and promoting a ‘do no harm’ philosophy?"
Read moreShell directors facing potential UK ESG shareholder derivative lawsuit
In the wake of COP26, more focus than ever is being given to the climate risks which apply to every aspect of business. Scrutiny of a company's climate awareness and adherence to applicable regulation is at the forefront of minds of companies' stakeholders.
Read moreESG claims in the banking and financial markets Sector: will "greenwashing" claims soon be common in the UK?
Environmental, Social and Governance "ESG" funds are an attractive avenue for investors seeking responsible investment choices.
Read moreA look at sustainable insurance (a podcast with Julian Richardson)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Julian Richardson, CEO of Parhelion Underwriting and our topic for this episode is sustainable insurance.
Read moreA look at Flood Re (a podcast with Andy Bord)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Andy Bord, CEO of Flood Re, a specialist UK reinsurer of flood risks. In this episode we will be discussing all things Flood Re.
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