The 26th annual summit of the UN Climate Change Conference of the Parties (COP26) has come to a close in Glasgow, with the penultimate day dedicated to Cities, Regions and the Built Environment.
Climate ActionIn the 20 year period since the first data sharing code was introduced by the Information Commissioners Office (“ICO”) in 2001, the data landscape has undergone monumental change. This prompted the ICO to introduce an updated code under section 121 of the Data Protection Act 2018 (“DPA 2018”).
BelfastIrish regulated AIFs and UCITS are required by 1 January 2022 under the Sustainable Finance Disclosures Regulation (SFDR) as amended by the EU Taxonomy Regulation to make disclosures in relation to the EU Taxonomy's environmental objectives of climate change mitigation and climate change adaptation.
Asset Management & Investment Funds
The Financial Conduct Authority (FCA) has published details of its expectations for firms implementing remote or hybrid working models.
COVID-19 BelfastWednesday 3 November 2021 was finance day at COP26. Mobilising funding for rapid, large-scale climate action is one of the COP26 goals and the crucial role of private investment in efforts to achieve net zero was in focus.
Climate ActionThe shift towards mandating green public procurement (GPP) in Ireland has advanced with the publication of the Climate Action Plan 2021 on 5 November 2021.
Climate ActionDomestically, the CBI clarified its expectations for the filing of KIIDs for UCITS which are implementing ESMA's performance fee guidelines with effect from 31 December 2021; At European level, the ESAs issued a final report on the EU taxonomy-related environmental product disclosures.
Asset Management & Investment FundsDomestically, the General Scheme of Insurance (Miscellaneous Provisions) Bill 2021 was published; At European level, EIOPA commented on Solvency II proposals from the European Commission and separately, EIOPA set out its strategic priorities for the coming year.
Financial RegulationDomestically, the CBI published the second edition of its Approach to Resolution for Banks and Investment Firms; At European level, the European Commission adopted its 2022 Work Programme and Commissioner Gentiloni spoke at the Eurogroup press conference.
Financial RegulationDomestically, the CBI issued its latest markets update, Issue 13 2021, and separately published an updated Beneficial Ownership Register FAQ; At European level, ESMA is seeking stakeholder input on shaping advice on retail investor protection.
Asset Management & Investment FundsDomestically, Director General Derville Rowland spoke on the importance of clear standards of conduct, accountability, and robust enforcement mechanisms; At European level, the European Commission adopted a review of EU banking rules.
FinanceThe Central Bank of Ireland (CBI) published its new Strategy document (the Strategy) which will be effective from January 2022.
Asset Management & Investment Funds
