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Fortnightly News Blog – 18 June 2024

Date added: 20 June 2024
  • Fund Board effectiveness ,  
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Regulation

Retail ruling

The European Council has agreed its position on the retail investment strategy, including main changes on inducements and Value for Money.  Read the press release here.

In case you missed it…

Fund Boards Council (FBC) hosted a very informative session on Consumer Duty last week, including new FBC research and a panel with the Financial Conduct Authority (FCA). FBC Members can watch the recording on-demand and view the supporting materials in the Member Portal here.

Sustainable Investment / ESG

Policy perspective

The European Supervisory Authorities (ESAs), has published a joint opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR). The group, which consists of the European Securities and Markets Authority (ESMA), European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA), called for the Article 8 and 9 fund categories to be replaced by two voluntary product categories for green funds under the EU’s Sustainable Finance Disclosure Regulation. Financial News has the details.

The ESAs also published Final Reports on Greenwashing in the financial sector, calling for enhanced supervision and improved market practice on sustainability-related claims.

Opinion

Desiree Fixler, the DWS greenwashing whistleblower, speaks to Financial News about the legacy of her actions and way forward. Read the interview here.

Market News

AI in hand

Nikhil Rathi, chief executive officer of the FCA, voiced the regulator’s current work on their engagement with “big tech” firms and data providers to establish how it should approach the regulation of Artificial Intelligence. Ignites Europe reports on the speech at the recent Investment Association annual conference.

Equity interest

The ongoing news on the private equity takeover bids for Hargreaves Lansdown have been covered in, among others, Financial News and Investment Week.

Conduct consultation

The Institute of Directors (IoD) has published a Consultation Paper on Code of Conduct for Directors. The IoD is asking for comments from the business community and the general public by Friday 16th August 2024.

On the pulse

The Schroders 2024 UK Financial Adviser Pulse Survey reveals the current views of financial advisers on topics including challenges facing financial advisers, strategic thinking and the direction of travel for the industry.  Money Marketing reports on the impact of the Consumer Duty the research reveals.

Governance

Private market pressures

A survey carried out by the CFA Institute identifies investors’ three main governance concerns in private markets: the frequency and accuracy of valuation reporting, the frequency, comparability and accuracy of performance measures, and the fairness and transparency of fees. Read more in Ignites Europe

Several of the news outlet cited in this blog require registration or subscription. Also, FBC takes no responsibility for the accuracy or quality of the news in the links provided above, and nor are the views and comments representative of FBC or its members, unless expressly stated. Content stored on the FBC portal is freely accessible for FBC members.