Jurisdiction

Europe

UK: FCA’s SDR: Firms and products in scope of the proposals

by Victoria Smith|9 February 2023|Our Thinking

The UK’s Financial Conduct Authority’s (“FCA“) recently published a Consultation Paper on the Sustainability Disclosure Requirements (“SDR”) and investment labels, aims to tackle greenwashing as part of the growing need for sustainability-related investments. The aim of SDR is to mitigate against firms making exaggerated and/or misleading claims about the level of sustainability of their products/services… […]

Meet the Team: Q&A with Antonia Manti

by Victoria Smith|2 February 2023|Our News

As part of our ‘Meet the Team’ series, we are delighted to feature Antonia Manti, from our Legal team who celebrates her first anniversary with Cleveland & Co this week! Antonia has had an eventful first year with us; she was our first person to undertake our secondment programme and last year, spent 3 months […]

UK: FCA’s Consumer Duty: Deadline approaching

by Victoria Smith|2 February 2023|Our Thinking

On 31 July 2023, the FCA’s new Consumer Duty comes into force. The Consumer Duty sets higher standards of consumer protection across retail financial services and represents what the FCA terms a “paradigm” shift in its expectations of firms. The Consumer Duty comprises three tiers; a new FCA Principle 12, three overarching cross-cutting obligations, and […]

UK: FCA’s SDR: Guide to the proposed requirements

by Victoria Smith|1 February 2023|Our Thinking

Following on from our previous article on the FCA’s Consultation Paper on the Sustainability Disclosure Requirements and investment labels, please subscribe below to access our handy print and keep guide for all the key information you need to know about the proposed changes, including an ‘at a glance’ timeline of when the proposed requirements are […]

Standard Contractual Clauses and Data Transfer Agreements

by Victoria Smith|19 January 2023|Our Thinking

Recent changes to the EU’s standard contractual clauses (“New SCCs“) plus the UK addendum to the New SCCs means firms must review their current arrangements and determine whether replacement agreements are necessary before the 21 March 2024 deadline. We’ve set out below the key points firms need to know about the changes and how we […]

Replacing the UK GDPR

by Victoria Smith|17 January 2023|Our Thinking

summary On 3 October, at the Conservative Party conference (the “Conference”), the UK government outlined a revised plan for its reform of the UK General Data Protection Regulation (“GDPR”). Organisations can expect the UK government to propose amendments to the Data Protection and Information Bill (the “Bill”) or to restart the process of reform altogether… […]

FCA proposes UK Sustainability Disclosure Requirements and investment labels

by Victoria Smith|12 January 2023|Our Thinking

background On 25 October 2022, the Financial Conduct Authority (“FCA”) published its Consultation Paper CP22/10 (“Consultation Paper”) on the Sustainability Disclosure Requirements (“SDR”) and investment labels. The FCA’s proposals aim to build transparency and trust by introducing: labels to help the consumer navigate the market for sustainable investment products; sustainable related terms, ensuring the naming […]

EU-US data privacy framework

by Victoria Smith|10 January 2023|Our Thinking

summary In March 2022, the European Union (“EU”) Commission and the United States (“US”) announced that they had agreed, in principle, on a new EU-US Data Privacy Framework (the “Framework”) to facilitate the transatlantic flow of EU personal data to the US. In October 2022, President Biden signed an Executive Order setting out the steps […]

FCA publishes speech on key priorities for the financial services industry

by Victoria Smith|12 December 2022|Our Thinking

summary On 1 November 2022, the Financial Conduct Authority (“FCA”) published a speech by Therese Chambers (Director of Consumer Investments, FCA) on key priorities for the financial services industry. In its speech, the FCA stated that it wanted to see more consumers investing their money safely and that the new Consumer Duty (“CD”) and the […]

Q&A with our HR intern, Josie Hutson

by Victoria Smith|2 December 2022|Our News

Josie has been an invaluable part of the team for the past 6 weeks as our HR intern and how the time has flown by! Josie is soon to return to Chicago, and so as she comes to the end of her time with us, we sat down to ask her a few questions about […]