The financial services industry is no stranger to frequent regulatory upheaval and scrutiny, however the past year has been particularly demanding on market participants, including but not limited to product providers, platforms, distributors, financial advisers and those providing data and technology infrastructure to meet the symphony of deadlines that defined 2022.
It seems clarity, transparency and sustainability will reign supreme as the dominating themes in fund regulation for the year ahead. Open discourse within the wider industry will be required to steer regulatory developments that make sense and deliver on Consumer Duty.
Key regulations explored
This whitepaper details key regulatory changes scheduled and pending in 2023, and how they will impact fund managers and fund distributors.
- Will the EU provide more clarity on sustainability disclosure requirements this year?
- How will the proposed handling of gas and nuclear energy impact sustainable finance disclosure requirements (SFDR), and the collection and distribution of European ESG Template (EET) data in Europe?
- What's next for packaged retail investment and insurance products (PRIIPs) after 1 January 2023 in Europe, the United Kingdom and other jurisdictions close to the EU?
- Will the UK Financial Conduct Authority's (FCA's) proposed sustainability investment labels, naming and marketing regime (CP22/20) achieve greater transparency for investors?
- What is Consumer Duty and what do FCA-regulated firms need to do now to prepare for it?
- How are global markets shaping the formation of sustainability frameworks in Hong Kong, Singapore and Australia?