Sustainable Value: ESG Risks in Commercial Real Estate Lending
This new report considers common approaches to sustainability and environmental, social and governance (ESG) risks in real estate valuations for commercial lending.
FCA - Diversity and Inclusion in the financial sector
The FCA have published a consultation on diversity and inclusion in the financial sector. Click here to find out more about the consultation and how members can contribute to AREF's response.
FCA - Overseas Funds Regime
The FCA have published a consultation on implementing the Overseas Funds Regime. More details can be found here.
Sustainable Finance Disclosure Regulation (SFDR)
The European Commission (EC) have published public and targeted consultations on the implementation of SFDR. AREF welcomes members views on SFDR for its response to the targeted consultation. Also, the ESAs have published their Final Report on draft RTS n the review of PAI and financial product disclosures in the SFDR Delegated Regulation. In October 2023, AREF held a webinar and produced guidance advice on the SFDR process for real estate funds. More details can be found here.
FCA - Guidance on the Anti-Greenwashing rule
The FCA are consulting on their guidance for their Anti-Greenwashing rule. More details can be found here.
FCA – Sustainability Disclosure Requirements (SDR) and investment labels
The FCA have published their Policy Paper on Sustainability Disclosure Requirements (SDR) and investment labels (PS23/16). More details can be found here.
UK Fund Tokenisation
The Technology Working Group, to the Asset Management Taskforce, have published an interim report "UK Fund Tokenisation: A Blueprint for Implementation".
IA Member Guidance - Real Estate Property Management and Financial Crime
The IA are updating their Member Guidance on Real Estate Property Management and Financial Crime. The latest draft can be found here. Comments are required by Friday 8 December.
Construction Industry Scheme
In the Autumn Statement 2023, the Government set out legislative changes it will bring forward in the Finance Bill, coming into force from 6 April 2024, to reform the Construction Industry Scheme. Find out more here.
DWP call for evidence: Options for Defined Benefit schemes
On 22 November 2023, the Government responded to its call for evidence on how DB schemes could use their assets more flexibly. Click here for more details.
REITs - Regime Amendments
As part of the Autumn Statement 2023, the Government published a Policy paper detailing amendments to the tax rules applying to REITs, including some of the conditions that determine whether a company qualifies as a REIT.
Transition Plan Taskforce - Asset Managers Sector Guidance
The Transition Plan Taskforce are consulting on draft Asset Manager Sector Guidance. They have requested feedback on the guidance by 29 December 2023. More details can be found her.
Financial Promotion Exemptions
In November 2023, the Government's published its response to its consultation on Financial promotion exemptions for high net worth individuals and sophisticated investors. More details can be found here.
Long-Term Asset Fund (LTAF)
The FCA have confirmed that they will not be taking forward their proposal to exclude FSCS cover for regulated activities relating to LTAFs at this time. Click here for more details about this and the Long-Term Asset Fund (LTAF) in general.
RICS Red Book - UK National Supplement - 2023 edition
RICS have published their 2023 edition of the UK National Supplement to the Global Red Book. This will become effective 1 May 2024. Find out more here.
Enabling DC pension schemes to invest in illiquid assets
In October 2023, AREF submitted proposals for unlocking DC pension investment in advance of the Chancellor's Autumn Statement. Find out more here about this and the government's work to enable DC pension schemes to invest in illiquid assets