Climate-related disclosures for issuers: next steps from UK financial regulators outlined

This month, there have been some significant regulatory announcements in relation to climate-related disclosures. These announcements are a result of the increasing focus on climate change and sustainability risks across governments, regulators and industry and a continued move towards corporate compliance with the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations. While not launching new … Read more

Climate-related disclosures: the new frontier?

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on the Financial Conduct Authority (FCA)’s proposals for regulating climate-related disclosures and the litigation risks which may arise for issuers from such proposals. Climate change has been part of the political and regulatory discourse for years. However, it … Read more

High Court requires claimant investors to disclose their investment history to show their level of sophistication and appetite for risk

In a recent decision in the group litigation brought in respect of the Ingenious Media film partnerships the High Court has ruled that each claimant should provide disclosure in relation to their investment history, as this may be relevant to: (a) their financial sophistication and risk appetite, which may in turn inform the scope of … Read more

Impact of Court of Appeal’s privilege decision in Sports Direct v FRC for the financial services sector

A judgment handed down yesterday by the Court of Appeal considering the question of privilege in a regulatory context represents good news for financial institutions: Sports Direct International plc v The Financial Reporting Council [2020] EWCA Civ 177. The Court of Appeal considered the situation where a regulated person was being investigated by its regulator … Read more