Sustainable finance and climate change disclosures
Find out more about the policy work being undertaken by governments, regulators and standard setting bodies in relation to sustainable finance and climate-related disclosures.
FRC - UK Stewardship Code
The UK Stewardship Code 2020 took effect on 1 January 2020. In July 2024, the FRC announced 5 immediate changes to reporting and confirmed their priority areas for reviewing the Code in 2024.
European Long-Term Investment Fund (ELTIF)
Find out more about ELTIF 2.0 here
FCA - Overseas Funds Regime
The FCA have published their policy statement for the Overseas Funds Regime; this includes the final rules and feedback to their earlier consultation. This follows on from the roadmap on implementing the Overseas Funds Regime published by HM Treasury and the FCA . More details can be found here.
ESMA - Liquidity Management Tools for Funds - Guidelines & Technical Standards
ESMA are seeking input on draft guidelines and technical standards for liquidity management tools under the revised AIFMD and UCITS Directive.
Liquidity Management
View the updates on this topic.
RICS Red Book Global Standards 2024
RICS are consulting on updating the RICS Red Book Global Standards. More details can be found here.
Sustainable Finance Disclosure Regulation (SFDR)
In May 2024 the European Commission published its Summary Report of the Open and Targeted Consultations on the SFDR assessment. This was followed by the ESAs Joint Opinion on the assessment of SFDR. More details can be found here.
FCA – Sustainability Disclosure Requirements (SDR) and investment labels
Find out more here about the FCA's Sustainability Disclosure Requirements (SDR) and investment labels regime. AREF recently responded to the FCA's consultation (CP24/8) proposing to extend the SDR and investment labels regime to portfolio management services.
PRA - Reforms to Matching Adjustment
In early June 2024 the PRA published its policy statement on its reforms to the Matching Adjustment. More details can be found by clicking here.
European Real Estate Industry - Building Blocks for a Prosperous Future
Members of the European Real Estate Forum, including AREF, have set out in a paper their recommendations for the next EU mandate in relation to real estate.
Reserved Investor Fund
Legislation for an unauthorised co-ownership contractual scheme, the Reserved Investor Fund (RIF), was included in the Finance Act (No.2) 2024. Click here to see AREF's response to the Government's consultation on tax rules for the RIF which it is hoped will be implemented in secondary legislation in the summer of 2024.
New committee members
This month we welcome two new committee members
The IA Market Practice Paper - Real Estate Transactions & AML Practice
The IA's Market Practice Paper on Real Estate Transactions & AML Practice can be found here.