FCA consults on new climate-related financial disclosures for the asset management sector

In November 2020, the Government published its Roadmap towards mandatory climate-related financial disclosures across the UK economy by 2025, aligned with the recommendations of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures. In support of the Roadmap, on 22 June 2021, the FCA published proposals for enhanced climate related financial disclosures by standard listed companies and the asset management sector. This Insight focuses on proposals for the asset management sector contained within the FCA’s Consultation Paper 21/17 and summarises who the proposals apply to, the key rules being introduced and the next steps for firms.

Related briefings

Return to the office: Is your data protected?

With the end of COVID-19 restrictions in sight, many businesses and their employees will be returning to the office within the next few months. While some employers will expect their workforce to be back full-time, others will adopt a hybrid way of working with employees’ time split between the office and home. This presents an array of challenges and issues that employers need to prepare for to ensure safety in the workplace, as well as business continuity. This podcast series discusses the key issues and how employers should address them to make sure their return to the office runs smoothly. In this first episode, Gowling legal director Anna Fletcher is joined by partner Jocelyn Paulley from our Data Protection team. Jocelyn will be discussing the key considerations that employers need to focus on in terms of data protection compliance in this new workplace and how to make sure that confidential information remains secure.

COVID-19 update: Step three of Ontario’s ‘Roadmap to Reopen’ plan presents new challenges for employers

Effective 16 July 2021, Ontario entered ‘Step 3’ of its Roadmap to Reopen. Qualifying businesses (including office workplaces) are now permitted to allow workers to return to the physical workplace, subject to compliance with all applicable health and safety protocols and public health requirements, including local requirements introduced under Regional/Municipal By-laws, Orders issued by local Public Health Units, etc.

Blockchain Webinar Series | Exploring decentralized finance: Understanding the latest trends and legal developments

For sophisticated investors looking for the next opportunity, decentralized finance (DeFi) offers a new way to invest in crypto assets in an on-demand digital world. However, before jumping in with both feet it’s critical to understand what DeFi is, how it works, its potential return on investment and its inherent risks. In this session we explore the burgeoning DeFi landscape, outline key legal considerations and highlight strategies that are currently being offered on various platforms.

Latest Briefings

Contributed surplus: it’s not capital!

In our previous paper, we discussed the meaning of share premium, the various ways a company may use share premium and its importance when determining the assessable capital of a company. In this paper we discuss contributed surplus, another frequently misunderstood concept which is distinct from and is not to be confused with share premium.

The Lugano clock has stalled: what now for dispute resolution clauses?

Since 1 January 2021, Regulation (EU) 1215/2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels Recast) and the 2007 Convention on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Lugano Convention) no longer apply to the UK. There is no mechanism allowing the UK to accede to Brussels Recast in its own right. Under the Lugano Convention, however, the UK is entitled to apply for accession following certain conditions specified in Article 72. Although the UK applied for accession in April 2020, it has not yet been ‘invited’ to accede. The European Commission, however, recently notified the Swiss Federal Council (as Depositary of the Lugano Convention) that, representing the EU, it does not consent to the UK’s accession. Whether this is the final decision from the EU, or whether the European Council will vote on the issue, remains to be seen. In the absence of unanimous consent of all contracting parties coupled with the enforcement gap of several months even if accession to the Lugano Convention is permitted, Irish (or indeed EU or EFTA) contracting parties with UK entities should continue to give careful consideration to their dispute resolutions clauses.

Our future town and city centres

Post-Covid, how do we revive our urban centres, now and in the future? What does the future hold for work, retail, entertainment and living? These were some of the issues discussed when Birmingham real estate partner, Beth McArdle, chaired a session at the Big Tent Festival 2021 in Coventry. Joining Beth on the panel were: Siraj Ahmed Shaikh, Director of Research at Institute of Future Transport & Cities, Coventry University; Trish Willetts, Coventry BID Director; and Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change, Coventry City Council.

Modernisation of the British Virgin Islands trust legislation

Legislative amendments to the British Virgin Islands trust legislation took effect on 9 July 2021 under the Trustee (Amendment) Act, 2021. The reforms introduce welcome improvements to the BVI’s Trustee Act and ensure that the BVI remains a leading offshore jurisdiction for the establishment, administration, and maintenance of trusts.

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