The FCA has set out where its newly published consultation paper on sustainability differs from that of the EU.
It says that the SDR is a labelling regime, not a disclosure regime and if products do not meet the qualifying criteria under the FCA's proposals, they will not be able to use any of the regulator's sustainable investment labels.
These labels are sustainable focus, sustainable improvers and sustainable impact.
The financial services industry is learning more about the approach to financial regulation from the new Sunak administration and it looks set to see more government interference in the work of regulators.
A Treasury statement says: "We have confirmed our intention to bring forward an amendment to the financial services bill, to include an ‘intervention power', that will enable the Treasury to direct a regulator to make, amend or revoke rules where there are matters of significant public interest."
The change is unpopular with regulators with both the Prudential Regulatory Authority and the FCA particularly vocal in their opposition.
This is very strong from the PRA’s chief Sam Woods.
"Some might think that such a power would boost competitiveness. My view is that through time it would do precisely the opposite, by undermining our international credibility and creating a system in which financial regulation blew much more with the political wind — weaker regulation under some governments, harsher regulation under others."
Investment experts expect the Bank of England to take a slower and more cautious approach to rate setting at this week’s meeting on 3 November according to Investment Week.
Former pensions minister Guy Opperman has been appointed as minister of state at the DWP and will take on the pensions role again.
FCA chief executive Nikhil Rathi has suggested that complying with the Consumer Duty “should mean fewer rules down the line”.
Amazon has launched into the home insurance market, a move which technology expert Ian McKenna has described as a wake up call for the whole industry.
Citywire suggests that the smart money is sticking with semi-conductors.
FTAdviser sets out how the new rules around fund labelling and greenwashing may impact advisers.
