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NEWSLETTER: As the green shoots of spring start to emerge we are counting down to the deadline for compliance with the FCA’s new anti-greenwashing rule, which comes into effect for all regulated firms at the end of May.
After unprecedented feedback on the Sustainability Disclosure Regulation, the regulator published further draft guidance in November. We’re still waiting for the final guidance on greenwashing, and trade body PIMFA has publicly fed back that although ‘broadly helpful’ they felt that it did ‘not fully address the complexities associated with sustainability and the range of claims that can be found in marketing frameworks and financial promotions.’ Either way, the draft guidance provides a useful reference point and, with only three months to prepare, there’s no time to lose.
Also this month, the FCA published its review of ongoing advisory services. It’s the regulator’s first significant use of Consumer Duty in the advice sector and goes right to the heart of the business model.
Finally, we saw an update on the FCA’s three year financial crime prevention strategy at its half way point. Although there wasn’t much new for us to get our teeth into – and in fact the reflections on its progress are very positive – it does contain some useful insights, in particular on oversight of technology.
While our team here in the UK is getting to know our new colleagues from Ocorian and Newgate, we’re as busy as ever supporting our clients. Our programme of webinars continues this month with a look at IFPR, where we’ll be presenting some of our own research: an analysis of the hundreds of ICARAs we have supported in the last year.
Rebecca Thorpe
Chief Executive Officer
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