On 10 June 2021, the Standing Committee of the National People's Congress (NPC), China's top legislative authority, enacted the Data Security Law of the People's Republic of China (DSL). The DSL will take effect on 1 September 2021.
On August 16, 2021, the European Commission published final regulatory technical standards (RTS) on the contractual recognition of stay powers under the European Bank Recovery and Resolution Directive (BRRD). Now that the RTS have been adopted and published in the Official Journal of...
The UK Financial Conduct Authority (FCA) continues its work to finalize the implementation of the investment firms prudential regime (IFPR), a new regime for investment firms authorized under the Markets in Financial Instruments Directive (MiFID). ICI Global's advocacy efforts have...
On July 20, 2021, the UK Government announced that the National Security and Investment Act 2021 (NSI Act) will come into force on January 4, 2022. The NSI Act comprehensively reforms the United Kingdom's foreign investment rules by creating a new self-standing investment review...
Attached for your reference is our response to IOSCO's Recommendations on Sustainability Related Practices, Policies, Procedures, and Disclosure in Asset Management.
This memorandum catalogues significant ESG related developments that have occurred since the beginning of June. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.
The CFA Institute has published an Exposure Draft of Verification Procedures for CFA Institute ESG Disclosure Standards for Investment Products (Verification Procedures Exposure Draft). The Verification Procedures Exposure Draft builds on a May 2021 Exposure Draft of CFA Institute...
Attached is a memorandum summarizing the IOSCO's consultation on "ESG Ratings and Data Products Providers", and Appendix to the Memorandum with "Detailed Overview of the IOSCO's Recommendations", with the corresponding Consultation Paper's questions for each recommendation. The...
On July 19, the European Securities and Markets Authority (ESMA) published a consultation paper with draft guidelines on certain aspects of the MiFID II remuneration requirements (Consultation Paper), with comments due by October 19, 2021. ESMA expects to publish a final report, and...
On Monday 2 August 2021, ICI Global submitted its response to the European Commission's ("the Commission") consultation on a retail investment strategy for the EU. ICI Global's submitted response takes account of member feedback on the draft response.
